Versalis, Eni's chemical company, acquired 40% of Finproject, the Italian leader in the compounding sector (mixing process between polymers and additives that allows to direct the properties of the plastic material produced) and in the production of manufactured articles from the VEI Capital fund. ultralight, with the aim of creating value through the integration of the respective production chains.
With this strategic operation, the first step of a collaboration that can be further developed, a new industrial platform is born which bases its strength and its innovative potential on the synergy between the skills of Versalis, the first Italian manufacturer of polymers, and the technological boost- creativity of the Finproject Group. The goal is to develop innovative solutions together for important brands in the fashion, design, footwear and industrial applications such as cables, pipes, renewable energy, construction and automotive, with significant growth prospects at an international level.
Versalis enters the sector of applications of high performance formulated polymers, extending its positioning towards businesses more resilient to the volatility of the chemical scenario.
"The operation is part of Versalis' development strategy towards greater specialization of the portfolio and geographical extension - declares Daniele Ferrari, Versalis CEO (Eni) - This also opens up opportunities to create new products using renewable or recycled raw materials for a market increasingly sensitive to sustainability issues, in line with the corporate strategy for the circular economy ".
Finproject, with over 50 years of history, is based in Italy and 11 production and research plants in various countries of the world (5 in Italy, Canada, China, India, Mexico, Romania, Vietnam) and two showrooms (Brazil and Turkey) . Expanded products are characterized by the XL EXTRALIGHT® brand which, in co-branding with some of the most important brands in the footwear sector and other industrial sectors, are items intended for the final consumer market.
The transaction is subject to the authorization of the competent antitrust authorities.