In Italy, engineering and technology conglomerate Maire Tecnimont has acquired a majority stake in biodegradable monomer firm Conser.
Upon closing, the 83.5% stake will be held by Maire Tecnimont subsidiary NextChem Holding S.p.A., which under the terms of the agreement has an option to retain the remaining 16.5% within the next 3 years.
Conser, which is expected to post €25 million in sales in 2022, holds technology patents dedicated to the energy transition and added-value specialty chemicals processes. Its portfolio includes technologies for maleic anhydride, butanediol and dimethyl succinate, which are crucial building blocks for the production of biodegradable plastics polybutylene succinate and polybutylene adipate co-terephthalate. Conser’s portfolio also includes technologies for vegetable glycerine derivatives.