Company News

New strategy and rebranding to Versalis

Versalis sets out to operate as one of the most advanced chemicals and plastic materials businesses, through an ongoing commitment to research and innovation in products, processes and technology.

The Versalis project will produce chemicals from renewable sources comprises the construction of one of the biggest industrial complexes in the world at Porto Torres, where bio-monomers and bio-polymers will be produced, through an investment of more than EUR500 million (in addition to the investments of the plan). The construction of seven production plants is planned in three phases over the next five years, along with a research centre which was opened in February 2012.

From 2012 to 2015, investment will amount to EUR1.6 billion, 60% more than in the previous plan, and will mainly be aimed at the re-launch of critical Italian sites to deliver income, growth in the elastomers business, and entry into new business areas. A significant portion of this investment, over EUR350 million, will be dedicated to the conversion of the chemical plant at Priolo (SR), with special attention paid to the cracking and polyethylene plants, and the construction of new plants which will ensure the site's profitability and increase employment levels.

The new plan highlights the development of the elastomers business, for which over EUR500 million of investment is envisaged. The objective is to double the company's turnover, increasing the current 15% margin to 30% in the next 5 years, by strengthening the current production lines and developing existing capacity thanks to the construction of new plants at the sites of Ravenna, Ferrara and Grangemouth in the UK. Implementation of this renewal plan will provide an expected improvement in EBIT of over EUR400 million in 2015.