The FINANCIAL — Versalis Pacific Trading (Shanghai), a 100% subsidiary of Versalis (Eni), a major producer in the polymers and elastomers industry, announced to have signed an Styrene Butadiene Rubber (SBR) Sales Agreement with Reliance Industries Ltd, an Indian based corporation, to commercialize the rubber produced by Reliance in the new Indian plant.
The SBR Sales Agreement follows the license agreement that the two partners entered into in 2011 when Versalis seized Reliance plan to expand its activities in the market of synthetic rubber by offering technology license and know-how for the construction of 140 kt/y Emulsion Styrene Butadiene Rubber (ESBR) production unit at Reliance plant at Hazira in India, targeting in particular the tire market segment. The new plant is up and running and part of its production will be distributed by Versalis in China, where the automotive and tire industries are developing rapidly and represent a massive potential for rubber producers, according to Eni.
Versalis has been placing strong effort on its elastomers business development to keep a global leading position on the marketplace. To this purpose, a very active licencing strategy is one of the tools used to tap synergies and expand the industrial footprint in Asia. The company established two regional subsidiaries, Versalis Pacific Trading in Shanghai (China) and Versalis Pacific India in Mumbai (India), with the aim of speeding up sales of its products in Asia, interacting with local partners more easily to guarantee prompt technical and logistical assistance through its several warehouses located in Eastern China. Asia has also been the background for strategic and factual joint ventures – with Lotte Chemical in South Korea, with Petronas in Malaysia – , while new negotiations with other major international market leaders are also being finalized.
“The tire industry is acknowledged to be very demanding in terms of R&D and “green” performances. Versalis strategy can rely on an evolving technology platform and commercial network that aims to meet those needs. It is no coincidence that Versalis was recently awarded as Best Supplier at Tire Technology International Expo 2015 for Innovation and Excellence. The Agreement with Reliance enriches the growing portfolio of partners that have been valuing Versalis technical and commercial know-how for years now, enabling to strengthen our competitive positioning in Asia.” said Versalis CEO, Daniele Ferrari.
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