MOSSI & GHISOLFI
PET patent pact with Sekisui complements Shell acquisition / Go-ahead on this deal soon
Two months after agreeing to acquire the PET business of Shell Chemicals (GB-London SE1 7NA) – see Plasteurope.com 03, 2000 – Italy´s Mossi & Ghisolfi group (Centro Direzionale Milanofiore, Strada 4, Palazzo A6, I-20090 Assago, Milan) has signed a pact with Japan´s Sekisui Plastic Co. (Osaka) to use Sekisui patents in PET foam sheets and trays. This places M&G in a good position to supply a wide range of food and non-food applications. The foamable PET resins are to be sold under the trade names “Cobifoam” and “Cobitech” and will complement the Italian group´s “Cobiter” and “Cobarr” PET resins and preforms and its bi-oriented PET film “Nuroll”.
The businesses acquired from Shell including PEN (polyethylene naphthalate) as well as PET, have annual sales of EUR 517m. The purchase price has not been disclosed, but analysts estimate it to be of the order of EUR 260-310m. Combined operations of M&G and Shell will have a PET resin capacity of 690,000 t/y, including 300,000 t/y from four plants in Europe and 390,000 t/y from facilities owned by Shell in the US and Mexico.
M&G is active in all areas of PET packaging, from standard non-barrier and barrier bottles to hot-fill containers and barrier/non-barrier trays. Its acquisition of the Shell proprietary technologies for “Petlite” foamable PET, “Hipertuf” (PEN) barrier technology and “Cleartuf 8006” hot-fill knowhow will enhance its position as an innovative and technology-driven player in PET. The company has its own Cobifoam foamable processing innovation and “Cobi-G” barrier technology. Both Shell and M&G also have a widespread commitment to closed-loop and innovative recycling projects.
A privately-owned company with a 1999 turnover of EUR 207m, Mossi & Ghisolfi is a world leader in the plastic and fibre applications of cellulose acetate through its Acetati subsidiary, which has a 20,000 t/y plant in Pallanza.The company started its involvement in PET in 1982 and the business, until the Shell deal, has been run from three sites: Italpet´s Pallanza plant for polymer manufacture and preform production; the solid-state polymerisation operation of Cobarr in Anagni; and the 18,000 t/y film extrusion business of Nu Roll in Pignataro. Its engineering subsidiary, Sinco Engineering has built one third of world PET capacity.
When M&G completes the takeover of the Shell business – EU approval is expected in May – almost one-quarter of European PET capacity will be Italian-owned, with 29% of it installed in Italy.
The businesses acquired from Shell including PEN (polyethylene naphthalate) as well as PET, have annual sales of EUR 517m. The purchase price has not been disclosed, but analysts estimate it to be of the order of EUR 260-310m. Combined operations of M&G and Shell will have a PET resin capacity of 690,000 t/y, including 300,000 t/y from four plants in Europe and 390,000 t/y from facilities owned by Shell in the US and Mexico.
M&G is active in all areas of PET packaging, from standard non-barrier and barrier bottles to hot-fill containers and barrier/non-barrier trays. Its acquisition of the Shell proprietary technologies for “Petlite” foamable PET, “Hipertuf” (PEN) barrier technology and “Cleartuf 8006” hot-fill knowhow will enhance its position as an innovative and technology-driven player in PET. The company has its own Cobifoam foamable processing innovation and “Cobi-G” barrier technology. Both Shell and M&G also have a widespread commitment to closed-loop and innovative recycling projects.
A privately-owned company with a 1999 turnover of EUR 207m, Mossi & Ghisolfi is a world leader in the plastic and fibre applications of cellulose acetate through its Acetati subsidiary, which has a 20,000 t/y plant in Pallanza.The company started its involvement in PET in 1982 and the business, until the Shell deal, has been run from three sites: Italpet´s Pallanza plant for polymer manufacture and preform production; the solid-state polymerisation operation of Cobarr in Anagni; and the 18,000 t/y film extrusion business of Nu Roll in Pignataro. Its engineering subsidiary, Sinco Engineering has built one third of world PET capacity.
When M&G completes the takeover of the Shell business – EU approval is expected in May – almost one-quarter of European PET capacity will be Italian-owned, with 29% of it installed in Italy.
31.07.2000 Plasteurope.com [17264]
Published on 31.07.2000