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Italy Saras Refinery S/D FCC 45 days 2Q09

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    Charles Randall

     Saras To Shut Down FCC Unit For 45 Days In 2Q-3Q 09 – Executive
    November 7, 2008 DJ

    ROME -(Dow Jones)- Saras SpA (SRS.MI) plans to shut down next year the key fluid catalytic cracker, or FCC, unit at its Sarroch refinery for about 45 days, which will affect Ebitda, or earnings before interest, taxes, depreciation and amortization, General Manager Dario Scaffardi said Friday.
    The shut down will take place between the second and third quarter of 2009 and will include other activities such as topping, Scaffardi said in a conference call on third-quarter results released earlier Friday.
    Milan-based Saras, Italy’s second-biggest refiner by capacity, forecast 2009 production at about 14.5 million metric tons, down from the 15.4 million tons it expects for this year, Scaffardi said.
    Saras doesn’t plan to reduce production because of the global economic slowdown as demand for low-sulfur diesel is strong and as margins in the Mediterranean area remain solid, he said, adding that the company is monitoring the situation.
    Saras is focused on “organic” growth, he said.
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