MOSCOW (MRC) -- Maire Tecnimont S.p.A. announces that, through its subsidiary NextChem Holding S.p.A., it is expanding into the high-value derivates and biodegradable plastic by-products licensing markets with the acquisition of an 83,5% stake of Conser, a technology licensor and process engineering design company based in Rome, Italy, said the cmpany.
Founded more than Fifty years ago, Conser has been developed by Flavio Simola, who has led the company to the current technological excellence. The closing, which is subject to customary conditions, is expected to take place by April 15, 2023. NextChem Holding also retains an option to acquire the remaining 16.5% stake within the next 3 years. The acquisition of Conser, which is expected to reach total revenues of approximately €25 million in 2022, is strategically important because it allows the Group to enter new markets.
Conser has a portfolio of technology patents dedicated to the energy transition and added-value specialty chemicals processes. Such a portfolio includes cost-effective and process-flexible technologies for Maleic Anhydride, Butanediol and Dimethyl Succinate, which are crucial building blocks for the production of biodegradable plastics, in particular Polybutylene Succinate (PBS) and polybutylene adipate co-terephthalate (PBAT). Conser’s portfolio also includes technologies for Liquid Organic Hydrogen Carriers, specialties for Lithium-based batteries production and Bio-based (vegetable glycerine) derivatives.
PBS and PBAT have excellent biodegradation properties, and their relevant consolidated markets show very promising outlooks driven by a growing demand especially in Asia, where Conser has licensed more than half of the plants in the region in the last year for several leading global players.
Conser will benefit from Maire Tecnimont Group’s technological know-how and expertise to further optimize its current and future technologies, in order to develop, among other solutions, a fully bio-based or biodegradable polymer.
With this strategic acquisition, Maire Tecnimont further strengthens its leadership in polymers by adding biodegradable plastics by-products and added-value specialty chemicals technologies to its technological portfolio and aims to combine it with its integrated projects service capability, while leveraging its global commercial network.
We remind, Maire Tecnimont S.p.A. announced that a signing ceremony concerning the USD6 bn world-class integrated polymers complex to be built in Ras Laffan Industrial City was held today in Doha, Qatar. The USD1.3 B EPC Lump Sum contract, already announced on December 21, 2022, is part of this complex and has been awarded to Tecnimont by a Joint Venture composed of QatarEnergy and Chevron Phillips Chemical.