Gita Fails to Provide Funding for Vinyls Italia Acquisition; New Offers Sought

Concerns about the future of Vinyls Italia (Porto Marghera), the troubled manufacturer of polyvinyl chloride (PVC) and vinyl chloride monomer, have grown following 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, as well as in the production of key feedstocks at plants owned by ENI (Rome). The plans would have required an investment of at least €100...

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