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MOSCOW (MRC) -- Versalis announces the
signing of the closing that formalizes the acquisition of a 40% stake in the
Finproject capital from VEI Capital, according to the company's press release.
The Eni chemical company thus enters the high-performance formulated
polymer sector and extends its position towards businesses that are more
resilient to the volatility of the chemical industry scenario.
Work to
complete the operation during lockdown never ceased and today Versalis launches
an industrial partnership with Finproject group, a market leader in the
production of cross-linkable and thermoplastic compounds and in the moulding of
products for the footwear sector, and products in ultra-light materials under
the brand XL EXTRALIGHT.
"We are delighted to have concluded this
strategic operation with such a valuable Italian company as Finproject - said
Daniele Ferrari, CEO of Versalis (Eni) - There are many opportunities that will
see us working together to develop highly innovative products with a vision of
growth in the name of sustainability and the circular economy".
The
Versalis-Finproject operation will create a new centre of industrial competence
in specialty plastic materials that will play a leading role in the development
of the sector in Italy and worldwide. Finproject's market position in high
value-added applications, in combination with Versalis' technological and
industrial leadership in the chemical industry, will create an undeniably
remarkable value chain. Together they will develop new materials geared towards
sustainability and the circular economy, creating solutions that will bring
innovations to countless strategic sectors such as wires and cables, automotive,
design, fashion and many other emerging industries.
As MRC reported
before, earlier this month, Eni, Versalis and COREPLA (the National Consortium
for the Collection, Recycling and Recovery of Plastic Packaging) have signed an
agreement that will see them pool their expertise to collect and recycle plastic
packaging, with a particular focus on non-mechanically recyclable
plasmix.
According to MRC's DataScope report,
PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000
tonnes. High density polyethylene (HDPE) accounted for the main decrease in
imports. At the same time, PP imports into Russia rose in the first six months
of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer
(homopolymer PP) accounted for the main increase in imports. |
