MAIRE TECNIMONT AND BIO-ON TOGETHER FOR THE DEVELOPMENT, PRODUCTION AND MARKETING OF BIODEGRADABLE FERTILIZERS
Milan, 30 May 2018 - Maire Tecnimont S.p.A. - through the Group's company Maire Green Chemicals s.r.l., specialized in the green chemistry sector - and Bio-on S.p.A., operating in the sector of bioplastic of high quality, have signed an investment agreement that regulates the entry of Maire Green Chemicals s.r.l. in the share capital of U-Coat (Urea Coating) S.p.A. with an equal 50% participation.
U-Coat S.p.A. is a new company established by Bio-on and dedicated to the production and marketing of an innovative technology for the coating of urea as fertilizer. U-Coat is part of a worldwide, rapidly growing market and exploits a technology based on PHA bioplastics (polyhydroxyalkanoates) designed by Bio-on. In fact, PHA bioplastics are made from renewable plant sources with no competition with food supply chains. Properly dosed, the PHA coats the urea pellet, which will have a controlled release in the ground while protecting the fertilizer from rains and maximizing its effect, without leaving any residue in the ground.
Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: "With this agreement Maire Tecnimont strengthens its presence in green chemistry technologies, confirming its technology-driven approach also in a sector which will progressively increase its relevance, beside traditional chemistry. In line with ecological sustainability principles, the Group leverages its leadership in large downstream processing plants, while confirming its role as a pioneer, anticipating the evolution of international environmental regulations".
"I am extremely proud to share with Maire Tecnimont S.p.A. - explains Marco Astorri, President and Ceo of Bio-on S.p.A. - this new and important market opportunity. Being able to study and develop new fertilizers for the agricultural world through the technology setup by Bio-on together with Maire Tecnimont, worldwide leader in the technologies related to the urea production, allows us to build a more sustainable future, full of new bio products".
(*) IFDC Worldwide Fertilizer Capacity - World fertilizer trend and outlook to 2018 FAO
Maire Tecnimont S.p.A.
Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilizers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 30 different countries, numbering around 45 operative companies and a workforce of about 5,500 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com
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