# Eni to launch chemical business restructuring in coming days, sources say
Author:  Pal Sinha,Barnali
Author URL: https://fintechherald.com/author/pal-sinha-barnali
Published: 2024-10-23
Category: Headlines
Category URL: https://fintechherald.com/category/headlines
Meta Title: Eni expected to announce chemical business overhaul
Meta Description: Italy Eni plans major changes to boost profitability in its chemical unit Versalis, targeting break-even by next year. Learn about the 2 billion euro investment.
URL: https://fintechherald.com/eni-to-launch-chemical-business-restructuring-in-coming-days-sources-say

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MILAN (Reuters) – Italy’s Eni is expected to announce an overhaul of its chemical business in the coming days as it presses ahead with its energy transition programme, two sources with knowledge of the matter said on Tuesday.

Eni said in March its loss-making chemical business Versalis aimed at reaching break-even at the core profit level next year after recording a 200 million euro ($216 million) loss in the first half of this year.

Versalis’ overhaul would involve around 2 billion euros in capital expenditures, one of the source said, confirming what has been firstly reported by Bloomberg News.

($1 = 0.9254 euros)

(Reporting by Francesca Landini, editing by Alessandro Parodi)


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