Home / Knowledge / News / Textiles / Equipolymers decides to divest its Italian entity
Equipolymers decides to divest its Italian entity
13
Feb '09
The shareholders of Equipolymers, The Dow Chemical Company and Petrochemical Industries Company of Kuwait, have announced today the decision to divest its Italian entity, Equipolymers Srl, due to disappointing financial results.

This divestment includes the Ottana, Italy, manufacturing location as well as the Equipolymers Srl as an ongoing business.

“This decision was taken after careful consideration of all options and will affect approximately 130 employees of Equipolymers Srl,” said Graham Fox, President and CEO of Equipolymers. “Equipolymers shareholders have formed a task force to explore all divestiture options.”

Equipolymers is a 50/50 global joint venture between Petrochemical Industries Company (PIC) of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation and The Dow Chemical Company.

Equipolymers manufactures and markets polyethylene terephthalate resins (PET), whilst producing purified terephthalic acid (PTA). PET is a high quality plastic for use in the packaging industry and in particular for the production of beverage, food and other liquid containers. PTA is a key raw material for the production of PET. Equipolymers serves customers globally and is headquartered in Horgen (Zurich), Switzerland.

Production facilities include PET and PTA plants in Ottana, Italy, and two PET plants in Schkopau, Germany.

Equipolymers

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search