Italy’s Eni announces radical plans for Versalis overhaul
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release on the company’s website, Italy-based energy company Eni has announced a radical transformation plan for Versalis, its chemicals subsidiary, in response to the deterioration of the European petrochemical market.
The plan includes the closure of steam cracking activities and the establishment of new business platforms such as compounding, specialized polymers, biochemistry, and chemical and mechanical recycling. The project also aligns with Eni’s strategy to incorporate new industrial initiatives such as biorefining, energy storage, and potential ventures into data centers and artificial intelligence.
As part of the reform, Versalis aims to achieve EBIT break-even by 2027, with a projected improvement in adjusted EBIT of approximately €900 million by 2028 compared to 2024. Investments will be reduced by approximately €350 million compared to the previous plans. In addition, a Return on Average Capital Employed (ROACE) of approximately 10% from the new business platforms is expected by 2030.
The plan includes the closure of steam cracking activities and the establishment of new business platforms such as compounding, specialized polymers, biochemistry, and chemical and mechanical recycling. The project also aligns with Eni’s strategy to incorporate new industrial initiatives such as biorefining, energy storage, and potential ventures into data centers and artificial intelligence.
As part of the reform, Versalis aims to achieve EBIT break-even by 2027, with a projected improvement in adjusted EBIT of approximately €900 million by 2028 compared to 2024. Investments will be reduced by approximately €350 million compared to the previous plans. In addition, a Return on Average Capital Employed (ROACE) of approximately 10% from the new business platforms is expected by 2030.
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