(Alliance News) - Eni Spa reported that its chemical company Versalis on Monday finalized the closing for the acquisition of 100 percent of Tecnofilm Spa, a company specializing in the compounding sector, after obtaining clearance from the relevant authorities.

Tecnofilm is a family company based in the Marche region of Italy, active in the production of functionalized polyolefins and thermoplastic compounds based on plastics and elastomers, especially for the footwear industry and the production of technical articles, the company explained in a note.

"The acquisition of Tecnofilm further consolidates Versalis' strategy in terms of business specialization. From a strategic point of view, in fact, it represents an opportunity for development and specialization of the product portfolio, with integration of the downstream supply chain in elastomer-based compounding, particularly in industrial applications and footwear. This is a supply chain in which we are already players with Finproject, to which Tecnofilm will be complementary," commented Adriano Alfani, chief executive officer of Versalis.

Eni trades in the red by 0.5 percent at EUR15.66 per share.

By Claudia Cavaliere, Alliance News reporter

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