MILAN, Italy (Nov. 11)—Polimeri Europa S.p.A., part of Italian oil and petrochemicals group ENI Group, is seeking offers for its elastomers business. The Brindisi, Italy-headquartered company announced the move in an advertisement in the "Financial Times." The sale is being handled by ABN AMRO Corporate Finance S.p.A. of Milan, which set Nov. 18 as the deadline for expressions of interest. With annual sales of more than $650 million and 1,400 employees, Polimeri's elastomers business encompasses seven production sites, including three in Italy, two in the United Kingdom and one each in France and the U.S. The unit supplies general purpose and specialty rubbers, thermoplastic elastomers and latex products. A pending sale to Saudi Arabia's Saudi Basic Industries Corp. lapsed after Sabic's period of due diligence.
ENI seeks buyer for Polimeri Europa elastomers unit
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