The shareholders of Equipolymers, The Dow Chemical Company and Petrochemical Industries Company of Kuwait, have announced to divest its Italian entity, Equipolymers Srl, due to disappointing financial results. This divestment includes the Ottana, Italy, manufacturing site as well as the Equipolymers Srl as an ongoing business affecting 130 employees.
Equipolymers, headquartered in Switzerland is a 50/50 joint venture between Kuwait's Petrochemical Industries Company (PIC) and The Dow Chemical Company. It manufactures and markets polyethylene terephthalate resins (PET), whilst producing purified terephthalic acid (PTA). The company runs production facilities include PET and PTA plants in Ottana, Italy, and two PET plants in Schkopau, Germany.