(Alliance News) - Maire Tecnimont Spa on Monday announced expansion, through its subsidiary NextChem Holding, into the markets for high value-added derivative and intermediate biodegradable plastics technologies with the acquisition of an 83.5 percent stake in Conser, a Rome-based proprietary technology and process engineering company.

Founded more than 50 years ago, Conser was developed by Flavio Simola. The closing is expected by April 15, 2023.

NextChem Holding also holds the option to acquire the remaining 16.5 percent stake within the next three years. The acquisition of Conser, which developed total expected revenues of about EUR25 million in 2022, is strategically important as it allows the group to enter new markets.

Conser can rely on a highly diversified portfolio of technology patents dedicated to energy transition and processes for high value-added fine chemicals products. The portfolio includes flexible and cost-effective technologies for maleic anhydride, butanediol and dimethyl succinate, which are key building blocks for the production of biodegradable plastics, particularly polybutylene succinate and polybutylene adipate co-terephthalate. Conser's portfolio also includes technologies for liquid organic hydrogen carriers, fine chemistry for lithium battery production, and bio-based derivatives (vegetable glycerin).

"With this strategic acquisition, Maire Tecnimont further strengthens its leadership in the polymers sector by adding technologies for biodegradable plastics intermediates and value-added specialty chemicals to its technology portfolio, with the aim of combining them with its integrated project execution capability, while leveraging its international commercial network," the company explained in a note.

Maire trades in the green by 2.4 percent at EUR3.54 per share.

By Claudia Cavaliere, Alliance News reporter

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