NextChem Buy 835 Of Conser
Rome, January 23, 2019 (Adnkronos) - Maire Tecnimont has announced that it is expanding in the markets for high value-added derivatives and intermediates of biodegradable plastics through its subsidiary NextChem Holding. The company has acquired an 83.5% stake in Conser, a Rome-based provider of proprietary technologies and process engineering. Conser was created by Eng, and it has been around for more than 50 years.
Flavio Simola was instrumental in guiding the business to the level of technological brilliance he now stands for. It is anticipated that the closing will take place by April 15, 2023, subject to the usual conditions for this kind of transaction.
Additionally, within the following three years, NextChem Holding has the option to purchase the final 16 point five percent stake. Conser's acquisition has strategic value as it enables the Group to expand into new markets; in 2022, Conser developed total expected revenues of about 25 million euros.
Conser has access to a very diverse portfolio of technological patents devoted to the energy transition and high-value added processes for fine chemicals. Maleic anhydride, butanediol, and dimethyl succinate are essential ingredients in the production of biodegradable plastics, particularly polybutylene succinate (Pbs) and polybutylene adipate co-terephthalate (Pbat), and the portfolio includes adaptable and economically advantageous technologies for these three substances.
The portfolio of . Conser also consists of technologies for liquid organic hydrogen carriers, fine chemicals for lithium battery manufacturing, and bio-based derivatives (vegetable glycerin). Because of rising demand, particularly in Asia, where Conser has licensed more than half of the plants for a variety of top-tier customers in the past year, Pbs and Pbat have excellent biodegradation properties and their consolidated markets display very promising prospects.
In order to further optimize its current and future technologies, Conser will profit from Maire Tecnimont Group's technological know-how and experience. This will include developing a fully biodegradable or bio-based polymer, among other things. By incorporating technologies for biodegradable plastics intermediates and value-added specialty chemicals into its technological portfolio through this strategic acquisition, Maire Tecnimont further solidifies its position as a market leader in the polymers industry. This will allow it to combine these technologies with its integrated project execution capability while also leveraging its own global sales network.
The Maire Tecnimont Group can now expand its technological portfolio in the area of sustainable chemicals thanks to this significant step, says Alessandro Bernini, Chief Executive Officer of the Maire Tecnimont Group. In order to support the energy transition, we will combine our value proposition as a technology licensor and provider of high-tech services with fresh, creative solutions that will assist international markets on their journey towards a more sustainable economy.
We are thrilled to work with Flavio Simola and his team in the future because of the value addition they have provided to the company. According to Flavio Simola, the sole director and largest shareholder of Conser, "I consider this transaction to be extremely interesting as it will allow for the expansion of both technological development and international commercial companies.".
The Rome law firm of Foschiani and Fai Advisory both provided support to Conser during the operation, while Maire Tecnimont received assistance from the latter two.
Because of rising demand, particularly in Asia, where Conser has licensed more than half of the plants for a variety of top-tier customers in the past year, Pbs and Pbat have excellent biodegradation properties and their consolidated markets display very promising prospects.
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