Dow Chemical and Petrochemical Industries Co, of Kuwait, have decided to divest their Equipolymers 50/50 global joint venture of its Italian entity, Equipolymers Srl, “due to disappointing financial results”. This includes the Ottana, Italy, manufacturing location, as well as the Equipolymers Srl as an on-going business.
“This decision was taken after careful consideration of all options and will affect approximately 130 employees,” says Equipolymers president and CEO Graham Fox. “Equipolymers shareholders have formed a task force to explore all divestiture options.”
Equipolymers manufactures and markets PET, whilst producing purified terephthalic acid (PTA). a key raw material for the production of PET. It is headquartered in Horgen, Switzerland, and has production facilities in two PET plants in Schkopau, Germany, as well as the Italian operation.
