Rome– Eni has signalled that it is in search for a partner for Versalis, its synthetic rubber and chemicals company.
In a 12 Jan meeting with the Italian ministry of economy, the Italian oil and gas company said it intended to retain a “significant stake” of Versalis in the partnership to “ensure its objectives are successfully met”.
Eni said in a statment that it would take into account a number key factors, namely investment plans, retention of industrial layout for at least five years, maintenance of current employment levels for at least three years and retention of the company HQ in Italy.
During the meeting, Eni also reported that Versalis’ performance in the first nine months of 2015 was positive following “significant losses in recent years”.
This was as a result of implementing “transformation plan” at Versalis, which according to Eni is centred, partly on, international development through strategic partnerships with global operators, and on the development of green chemicals.
However, said Eni, the continuously changing global business environment still shows structural limitations.
“For this reason, Eni is seeking to identify a partner for Versalis, in order to strengthen the business further and to ensure the continuity of its investment and restructuring plans,” the company added.
Such a partner, it added, must have the availability and expertise to enable Versalis to either broaden or exchange its technology portfolio, so as to generate new development and investment opportunities.
ERJ was unable to contact Versalis for further details.