By LIAM MOLONEY
ROME -- Italys Eni said Friday it signed an agreement with Honam Petrochemical for the development of an elastomeric plant at a South Korean facility of the Asian company, as the Italian company seeks to turn around its chemicals subsidiary Versalis.
The new site will use Versalis technologies and will have a production capacity of about 200,000 tpy of elastomers, or elastic polymers, which will be delivered mainly to Asian markets, Eni said in a statement.
Start-up is planned for the end of 2015, the Rome-based company said.
Versalis will provide engineering services, commercial development skills and technical assistance, while Honam will provide the primary raw materials, operative sites and existing structures.
Dow Jones Newswires
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