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Vinyls Italia Granted Special Administration

10:05 AM MDT | August 19, 2009 | Peter Mapleston

Magistrates in Venice have given the green light to allow troubled polyvinyl chloride and vinyl chloride monomer producer Vinyls Italia (Porto Marghera, Italy) into special administration. The Italian government has approved recommendations submitted last month by the company’s three commissars. Vinyls Italia could remain in special administration for up to two years or until the commissars can find a buyer for the company. This assumes that the company’s creditors, most notably oil and gas company ENI (Rome), also give their approval for the company...

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