Gita Fails to Secure Funding for Vinyls Italia Acquisition

Doubts over the future of Vinyls Italia (Porto Marghera), the stricken manufacturer of polyvinyl chloride (PVC) and vinyl chloride monomer (VCM), grew last weekend with an announcement by Italy's minister for economic development, Paolo Romani, that talks with the only company prepared to take over Vinyls Italia had broken down. That company, Gita Holding (Zurich), had said it would invest in Vinyls Italia’s operations in northeastern Italy and in Sardinia, as well as in the production of key feedstocks at operations currently owned by ENI (Rome). This...

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