Eni’s (Rome / Italy; www.eni.com) chemical sector problems are continuing. The energy giant’s subsidiary Versalis (Milan / Italy; www.versalis.eni.com) registered losses in the last quarter of 2018 – see Plasteurope.com of 22.02.2019 – and things look worse in the first half of 2019. Revenues dropped 18% in the first six months to EUR 2.14 bn. Versalis’ half-year EBIT was in the minus – by EUR 74m – for H1 2019 compared to a EUR 65m increase in the same period of 2018.

The group says the results are attributable to weaker demand due to the US trade war with China and the struggling automotive sector, which is affecting elastomers business. Recently, Italian trade unions announced that restructuring talks with the group are in progress – see Plasteurope.com of 23.07.2019.