After changing its name in April to signify its growing global activities (see Plasteurope.com of 12.04.2012), Versalis (Milan / Italy; www.polimerieuropa.com) – the former Polimeri Europa – has embarked on a string of new activities. In the latest initiative, the Eni subsidiary inked an agreement with Honam Petrochemical (Seoul / South Korea; www.hpc.co.kr) to set up a new elastomeric plant at the latter’s existing production site in Yeosu / South Korea. A relevant agreement was signed in Milan by Versalis CEO Daniele Ferrari and Honam Petrochemical’s chief executive Sooyoung Huh at the beginning of October 2012.

The 200,000 t/y plant, scheduled to start up in late 2015, will use Versalis’ proprietary technology. Whereas the Italian group will supply the engineering service, commercial development and technical assistance, Honam will contribute the necessary raw materials as well as the operative site and its existing structure. Output of the plant is earmarked mostly for the Asian market, where Versalis plans to strengthen its position.

The Italian group already has made a number of moves towards the east, including by opening its own office in Shanghai / China and entering into a joint venture with Malaysia’s Petronas (Kuala Lumpur; www.petronas.com) for a rubber production plant in the country – see Plasteurope.com of 18.09.2012.