ENI to Restructure Chemicals; Priolo Site to be Reconfigured

ENI (Rome) has announced a business plan for 2012-15, including a major overhaul of its chemicals activities, most of which are operated by the company’s Polimeri Europa (Milan) subsidiary. ENI’s chemical plan, “a new turnaround strategy,” aims to increase revenues generated by added-value products to 50% of overall chemical revenues by 2015, from less than 30% today; raise sales outside Europe to more than 10% of the total; and form production alliances and joint ventures. The plan aims to save more than €200 million ($262.3 million)...

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