Italian chemicals producer Versalis (Milan; www.versalis.eni.com) has completed the purchase of a 40% stake in compatriot compounder Finproject (Morrovalle; www.finproject.com). Finproject CEO Maurizio Vecchiola said the transaction, which was announced a few days before the lockdown in Italy (see Plasteurope.com of 20.04.2020), creates an all-Italian hub for innovative plastic materials.

Finproject produces cross-linkable and thermoplastic compounds used in footwear, as well as “XL Extralight” polyolefin-based foam. Together, the companies plan to develop materials with a focus on sustainability in sectors such as wire and cable, footwear, automotive and design. The coronavirus crisis has demonstrated the importance of developing plastic materials with specific antibacterial characteristics, opening up a new line of research in this field, Finproject added.