ENI joins Finproject capital assets: subsidiary Versalis takes 40%

ENI nel capitale di Finproject: alla controllata Versalis il 40%

ENI have joined Finproject capital assets through Versalis, a subsidiary enterprise. The chemical company, which is Italy’s top manufacturer of polymers, has bought out, from VEI Capital fund, 40% of the company based in the Marche, which was one of the exhibitors at Lineapelle.

The goal

“The aim – pointed out Versalis in their press release – is to develop together some cutting edge solutions serving a few important brands”. In example given: “Fashion, design, footwear alongside industrial applications”. As regards industry solutions, they specifically refer to manufacturers of “cables, pipes, renewable energy, building and automotive”. Such agreement lays the groundwork to build up “remarkable prospects of growth on an international scale”.

The deal was in the air

In May 2019, it was rumoured that ENI managers were interested in the Finproject deal. Such rumours have proved true today, right after this agreement. “From now onwards our aim is to create a new industrial expertise hub, focused on special materials”. This centre will play “a prominent and leading role in the development of the industry in Italy and all over the world”, commented Maurizio Vecchiola, president and managing director of the group headquartered in the Marche. “Finproject position on the market of highly added value applications is going to match Versalis industrial and technological leadership in the chemical industry”. Therefore, we are about to create “an undoubtedly valuable chain. While liaising together, we shall develop new materials and solutions that will foster innovation”.

Pointed out Versalis

While relying on Finproject development potential, Versalis join the industry of high-performance formulated polymers applications. They have been setting a few specific goals. First: “The deal is part of the development strategy implemented by Versalis, which aims at a higher specialization of the portfolio and a wider geographical expansion”, remarked managing director Daniele Ferrari. Second: “In doing so, we are about to create some opportunities to make new products by using renewable or recycled raw materials, serving a market that pays more and more attention to the sustainability issue, in line with our corporate strategy, which responsibly cares about circular economy”.

In the picture, left: Daniele Ferrari and Maurizio Vecchiola

 

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