Stamicarbon's acquisition of Noy Engineering expands its polymer portfolio

07-Jan-11

With effect from January 1, 2011, Stamicarbon, the licensing and IP Center of Maire Tecnimont S.p.A., has acquired the Italian engineering company Noy Engineering from Tecnimont. With this acquisition the extensive licensing, innovation and customer service experience of Stamicarbon is combined with the polyester and polymerization technologies of Noy Engineering. Noy Engineering designs and builds plants worldwide, based on proprietary technologies. It has developed an extensive portfolio of Polymer technologies PA6.6 & PA6, PET and Acrylic. There are more than 100 plants already designed, constructed and in operation with Noy's technologies, which is equivalent to more than 1 million metric tons per year production installed worldwide. Pejman Djavdan, CEO of Stamicarbon, commented "I am very pleased with the acquisition of Noy Engineering. It is a group of well qualified engineers that have proven to be able to develop state-of-the-art technologies. For Stamicarbon it is an important step in accelerating licensing business by extending our portfolio with these polymer technologies". Amir Shademan, the new Managing Director of Noy Engineering states: "Now being part of Stamicarbon we will be able to further develop innovative solutions and technologies and market them through the licensing business model of Stamicarbon. This means extensive growth opportunities for both Noy and Stamicarbon. Currently we are in the process of rolling out our latest polymer technologies."