As part of its 2012-2015 strategic realignment plan, touted in October last year (see Plasteurope.com of 20.10.2011), Eni subsidiary Polimeri Europa (Milan / Italy; www.polimerieuropa.com) has said it will change its name to Versalis. “The new name represents a tangible sign of Eni’s 2011 decision to relaunch this sector of its business,” the group said in a press release, adding that the strategic plan includes an investment of EUR 1.6 bn to upgrade numerous Italian sites, a reinforcement of its research and licensing activities as well as the establishment of four market-driven business units, the details of which were not disclosed. The realignment also includes the decision to move to the renewable chemicals industry, embodied by Polimeri Europa’s 50:50 Matrìca joint venture with Novamont (Novara / Italy; www.novamont.com) – see also Plasteurope.com of 15.06.2011.

The group said the new name embodied its focus on internationalisation, overcoming what it called “the geographical and operational confines” inherent in its current name. Evoking versatility, movement, direction and flexibility, the new name also embodied its broader product range and increased sustainability investments, the group said.