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Polimeri Europa's Losses Widen on High Feedstock Costs, Weak Demand

10:44 AM MDT | July 29, 2011 | Ian Young

ENI (Rome) says operating losses at the company's Polimeri Europa chemicals subsidiary widened to €30 million in the second quarter of 2011 from €11 million in the same period of last year. Second-quarter net losses at Polimeri Europa were "stable" at €23 million, ENI says. Polimeri Europa's sales increased 3% year on year in the second quarter, to €1.75 billion.  The operating result "was negatively impacted by lower margins as high supply costs of oil-based feedstock were not fully recovered in sales prices on end...

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