MILAN—Versalis S.p.A. has acquired 40 percent of the shares of Italian compounder Finproject Group with the aim of creating an integrated supply chain for special polymers.
The move will look to build a new industrial platform that will use the synergies between Versalis as polymer manufacturer and Finproject's technologies to create value, Versalis said in Feb. 27 statement.
As part of the partnership, the two companies will aim to jointly develop solutions for major brands in the fashion, design and footwear sectors, as well as for industrial applications such as cables, pipes, and automotive sectors.
Marking Versalis' entry into the "high-performance formulated polymer applications sector," the project will work on expanding Finproject's range of XL Extralight closed cell foam materials.
In a 27 Feb written statement to ERJ, Versalis said elastomers are also part of the future developments that the two companies have outlined.
Based in Morrovalle, in eastern Italy, Finproject has 11 production and research facilities across Italy, Canada, China, India, Mexico, Romania and Vietnam.
The transaction, details of which were not disclosed, is subject to approval by the relevant antitrust authorities.