CB&I and Versalis Announce Agreement for New Technology Offerings

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Jul 24, 2014, 08:00 ET

THE WOODLANDS, Texas, July 24, 2014 /PRNewswire/ -- CB&I (NYSE:CBI) announced today a cooperation agreement by which CB&I will market and provide engineering services for Versalis' low density polyethylene (LDPE) and ethyl vinyl acetate copolymer (EVA) technologies in North America. CB&I will be able to offer both tubular and autoclave high pressure processes, which will enhance the range of products at Versalis' LDPE and EVA plants and add a high-quality product mix to meet any market needs.

"The LDPE and EVA technologies complement our olefins processes and our Novolen polypropylene technologies," said Daniel McCarthy, President of CB&I's Technology operating group. "Versalis has vast experience in petrochemicals and polymers, and CB&I is already partnered with them for other petrochemicals processes. This expansion of our cooperation is a testament to our successful relationship."

"The marketing of our LDPE and EVA through our partnership with CB&I – by means of their significant presence in the petrochemicals market worldwide – has come to be part of the strategy Versalis is pursuing to strengthen its positioning on the international marketplace and gives the opportunity to enhance and expand our technological footprint paired with high-quality standards," said Daniele Ferrari, Chief Executive Officer of Versalis.

LDPE and EVA are used to produce film applications for agriculture, packaging and stretch hoods, cables, foams, hoses, injection molding and extrusion coating.

About CB&I

CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com.

About Versalis
Versalis, the chemical subsidiary of Eni, the Italian oil giant, is a leader in the production of intermediates, polyethylene, styrenics and elastomers. As part of its strategies, the company is also entering the bio-based chemicals and polymers industry partnering with leading global biotech companies. Versalis prides itself on its wide range of proprietary technologies, wide-reaching sales network and after-sales assistance. The company also aims to gain a significant position in fast-growing markets by leveraging its technological and industrial expertise. In Asia, Versalis has entered into partnerships with global petrochemical producers to strengthen its positioning in the elastomer business.

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SOURCE CB&I