05 August 2013 11:32 [Source: ICIS news]
LONDON (ICIS)--Italy’s Versalis is to produce hydrocarbon resins at its Priolo plant in the country, the chemicals producer said on Monday.
Capacity to produce the specialty products will be developed through a partnership with Neville Venture, a joint venture between synthetic resins manufacturer Neville Chemical and chemical engineering specialist GTC, and entered into a license agreement related to the feedstock that will feed the resin facilities.
The overhaul of the Priolo facility represents the latest step in Versalis’ campaign to increase the competitiveness of its European operations by re-focusing away from commodity chemicals in favour of more niche materials.
The company said that the new technologies will allow for the development of new hydrocarbon resin production plants, allowing it to make the most use of cuts produced by the existing cracking facility.
Versalis did not disclose the level of investment the project will involve, or a timeline for its completion.
“The overhaul activities started off at Priolo represents an example of industrial integrated model and this agreement is Versalis’ tangible sign of its commitment to innovation,” said CEO Daniele Ferrari.
Hydrocarbon resins have applications adhesives, inks, coatings and rubber.
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