Versalis to build rubber factory in JV with Honam

ERJ staff report (DS)

Milan-Versalis has signed yet another joint venture in Asia, this time with Honam Petrochemical Corporation. The two companies are cooperating to build a plant capable of making up to 200,000 tonnes of elastomer annually. The companies did not specify the type of elastomers in the venture.

The start-up is planned by the end 2015. Versalis will provide its engineering services, commercial development skills and technical assistance while Honam will provide the primary raw materials, operative sites and existing structures.

The agreement signed in Milan by the CEO of Versalis, Daniele Ferrari, and the CEO of Honam Petrochemical Corporation, Sooyoung Huh, sets the basis for the creation of a joint venture, the goal of which is to strengthen Versalis' position on the global market, particularly in the Asia-Pacific region.

The partnership with Honam Petrochemical Corporation is in addition to the recent inauguration of the new Versalis office in Shanghai and its joint venture with Petronas for the development and joint use of a production plant in Malaysia.

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Press release from ENI / Versalis