Maire Tecnimont completes the acquisition of the majority stake of Conser

The subsidiary of Maire Tecnimont, NextChem Holding, has finalized the acquisition of an 83.5% stake of Conser, a technology licensor and process engineering design company based in Rome, Italy, as already announced last January. With this acquisition, Maire Tecnimont strengthens its leadership in the energy transition and circular economy fields, adding innovative and sustainable technologies for biodegradable plastics intermediates and high value-added specialty chemicals to its portfolio. These technologies may be exploited in new markets thanks to Maire Tecnimont global commercial network and integrated project execution capability. Further growth opportunities may come from the development of a fully biodegradable or bio-based polymer, in line with the decarbonization strategy undertaken by the group.

The purchase price is approximately 35.8 million euros, of which 28.4 million paid upfront and 7.4 million deferred and subject to certain conditions. Founded more than 50 years ago, Conser can rely on an extremely diverse portfolio of technology patents dedicated to the energy transition and added-value specialty chemicals processes, including cost-effective and process-flexible technologies for maleic anhydride, butanediol and dimethyl succinate, which are crucial building blocks for producing biodegradable plastics. Given their excellent biodegradation properties, these plastics show very promising prospects driven by a growing demand, especially in Asia. Conser portfolio also includes technologies for fine chemistry for lithium battery production, and bio-based derivatives (plant glycerin). In 2023 Conser is expected to generate operating results (Ebitda) in the range of 13-15 million euros and to post a net cash position of over 10 million euros.