Neville Venture, a joint venture between U.S.-based companies GTC Technology and Neville Chemical Co., has signed a strategic partnership agreement with Versalis (Eni) for the production of hydrocarbon resins at Versalis’s plant in Priolo, Italy. GTC also entered into a license agreement for producing the C5 feedstock, which will supply the resin facilities. These new, high-value products, synergetic in particular with Versalis’s elastomer business, are used in specialty applications such as adhesives, inks, coatings and rubber.
The project represents an important investment in Versalis’s program for the overhaul of the Priolo plant site, and contributes to upgrading the products from the existing cracking facility. The products will be sold in Europe where Versalis has a widespread commercial presence.
“Neville Venture is pleased to partner with such a respected firm as Versalis,” said Pinti Wang, CEO of Neville Venture. “We share their vision for becoming the leading supplier of high-quality resins in the European region through this relationship and look forward to working together.”