(ineos) -- INEOS Europe confirmed
that it is considering strategic options for the future of its HDPE businesses
at Rosignano and Sarralbe, including a divestment to interested third parties.
The decision follows a recent strategy review of INEOS O&P Europe.
Rosignano (Italy) and Sarralbe (France) have been a part of INEOS since
December 2005, when the company acquired the Innovene business from BP. Since
that time INEOS Olefins & Polymers Europe has significantly improved the
performance such that today both sites are highly "cycle-resistant" producing a
sophisticated range of differentiated polymers with top quartile SHE,
reliability and cost leadership of both sites. Today, both sites are profitable
and cash generative.
INEOS Olefins & Polymers Europe plans to focus on the growth of its
assets that are highly integrated upstream and downstream. Rosignano and
Sarralbe are not integrated with INEOS feedstocks and hence are being considered
for divestment; however, both have the potential to grow further in response to
the increasing demand from the market for their differentiated products.