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Supreme Petrochem and Versalis S.P.A. ink mass license agreement for 70 KTY ABS unit; Stock soars

The addition of Versalis' proprietary mass ABS technology expands Supreme Petrochem's leadership position in Styrenics polymers in India.

December 03, 2021 3:27 IST | India Infoline News Service
Supreme Petrochem Ltd (SPL) said on Friday that the company and Versalis - Eni's Chemical Company, a technology leader in the chemical industry and one of the largest producers of polymers in Europe, have signed continuous mass ABS technology License and Basic Engineering design agreement for a 70 KTY ABS unit to be built in Amdoshi -Wangani, District Raigad in Maharashtra state (India).

As per the regulatory filing, it is a state-of-the-art technology that allows the production of Styrenic polymers with a low carbon footprint thanks to the very low emissions, energy consumption and effluent generation. Market applications include the automotive industry, household appliances, the electric and electronic sector, medical appliances and furniture.

The addition of Versalis' proprietary mass ABS technology expands Supreme Petrochem's leadership position in Styrenics polymers in India adding to its existing polystyrene, expandable polystyrene, and compounding operations in Nagothane and Chennai.

At around 3.25 pm, Supreme Petrochem was trading at Rs708.95 per piece up Rs7.90 or 1.1% on Sensex.

Supreme Petrochem is a leader in Styrenic polymers in India with two manufacturing locations, Amdoshi-Wangani, Maharashtra and Manali, Tamilnadu in India. SPL's combined installed nameplate capacity of all products is about 400 KTY.

Versalis - Eni's Chemical Company, is one of the largest producers of polymers in Europe and an experienced licensor with full-scale plant operations knowledge. 

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