Enimont, Orkem swap chemical operations
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Orkem, the French state-owned chemicals producer, has agreed to exchange selected assets with Enimont, the new Italian chemicals company formed by merger this year. Enimont will take over Orkem's low-density polyethylene plants (858 million lb per year) in Dunkirk and Carling, and a linear low-density polyethylene plant (220 million lb per year) at Dunkirk. Enimont will also take a share in Orkem's ethylene cracker at Dunkirk. Current cracker capacity is 594 million lb per year and plans are to boost it to 704 million lb. The companies, as a joint venture, may double its capacity. For its part, Orkem will take over Enimont's subsidiary Vedril, which produces acrylic sheet and methyl methacrylate, in Italy and West Germany. Orkem already produces acrylates in France and the Netherlands. At a press conference last week in Paris, Enimont chairman Antonio L. Necci said that "This is a very important deal because we are trying to build an industry ...