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Versalis posts higher fourth-quarter loss on lower sales

10:30 AM MST | February 13, 2014 | Natasha Alperowicz

Versalis (Milan), the chemicals subsidiary of Italy’s energy major ENI (Rome), today reported an increase in fourth-quarter operating loss on lower sales. Full-year 2013 operating loss narrowed compared with 2012 on 9% lower sales. Versalis is currently undergoing a major restructuring of its assets in Italy, including conversion of some of its plants to green chemistry.   Fourth-quarter operating loss reached €130 million ($177.1 million) compared with an operating loss of €116 million in the year-earlier period. Sales in the fourth quarter...

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