Versalis' two new Italian acquisitions
The chemical company and Eni subsidiary Versalis has acquired the technology and plants of Ecoplastic, an Italian company that is currently part of the De Berg group specialising in the recovery, recycling and transformation chain of styrenic polymers.
Versalis says the deal will allow it to accelerate developments in advanced mechanical recycling and expand the portfolio of the Versalis Revive range of recycled polymers.
Ecoplastic has developed a production process of styrenic polymers, expanded polystyrene (rEPS) and solid polystyrene (rGPPS) with recycled content up to 100% starting from secondary raw material obtained from expanded polystyrene waste selected from the industrial and commercial sectors.
Read more: Versalis & SRS launch chemical plastic recycling project in Italy
The new products will be aimed at markets in which sustainability and circularity requirements are rapidly becoming more essential, such as packaging and construction.
The agreement with the De Berg group is an important step for the start of the first phase of construction of the advanced mechanical recycling hub as part of the transformation project of the Porto Marghera plant, where the installation of the units acquired from Ecoplastic will take place from next year.
Versalis CEO Adriano Alfani said: “The recycling of plastics is one of the fundamental levers to accelerate the transformation of Versalis through circular models and is part of Eni’s broader strategy for the energy transition, of which the circular economy is one of the core strategic pillars.
"This agreement represents a further important step in the development of a portfolio of recycled products capable of meeting the needs of the market both in terms of high performance and sustainability, leveraging technological innovation and strategic supply chain partnerships, as well as our people’s expertise."
This year, Versalis has been on a steep growth path. On 23 September the company announced that it has exercised the call option to buy the remaining 60% of the shares of the Marche-based industrial group Finproject, which specialises in the compounding sector and in the production of ultralight products, in order to raise its stake to 100%.
The transaction, which will be formally completed with closing expected in the fourth quarter of 2021, follows the initial acquisition of a 40% stake in the company in July 2020 from VEI Capital, and is part of Versalis’ strategy to become the Italian leader in the high-performance formulated polymers sector.
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The full ownership will allow Versalis to develop innovative technological solutions for fashion, design and footwear brands as well as for industrial applications such as cables, pipes, renewable energy, construction and automotive, with significant growth prospects at an international level using a globally consolidated commercial network.
Adriano Alfani said: “The acquisition of the total share package of Finproject is a strategic step to further accelerate Versalis’ path towards portfolio specialisation and access to new markets. The combination of our expertise and Finproject’s will allow us to create an integrated technological platform and grow rapidly in the joint development of products and solutions of great value.”
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