Equipolymers Announces Sale of Manufacturing Facility in Ottana, Italy
“The decision to sell the Ottana assets was made to sustain the long-term value of the site while enabling our Equipolymers production facilities in Schkopau, Germany to focus on R&D and new technologies in markets that best serve our customers,” said Ramesh Ramachandran, president and CEO for Equipolymers. “This move will allow us to maximize access to key raw materials and improve our cost structure over the longer term.” Throughout this process both, Dow and PIC have been committed to finding a solution that would ensure the future viability of the site and continued employment for the local residents.
There are approximately 120 employees at the Ottana facility, located on the island of Sardinia, Italy. The facility produces PTA as raw material, and PET a high quality plastic use extensively in the packaging and beverage industry. Equipolymers will continue to run its manufacturing facility in Schkopau, Germany.
The sale concluded on July 1, 2010.
Most read news
Topics
Organizations
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.