Maire Tecnimont has its origins dating back to the 1930s with the founding of "Servizio Costruzioni e Impianti Fiat S.A.".[6][7] It was set up as a division of theFiat Group to design and construct equipment for car manufacturing. It was involved in the production of cogeneration and combined cycle plants both in Italy and abroad, also focusing on the Middle East and Latin America.[citation needed] Servizio Costruzioni e Impianti Fiat S.A. was spun off from Fiat in 1972 under the name Fiat Engineering S.p.A.[8]
In 1966,Montecatini andEdison merged to form Montedison. In 1973, Montedison its consolidated engineering and development into a new subsidiary called Tecnimont S.p.A."[9] In 2004 Maire Holding acquired Fiat Engineering[10] and in 2005 acquired Tecnimont, forming Maire Tecnimont.[11] In 2007, Maire Tecnimont went public on theMilan Stock Exchange.[12]
In 2008 Maire Tecnimont finalised the acquisition of the entire share capital ofit:Tecnimont ICB Pvt. Ltd.[13] Also in 2008, the Group acquired Noy Engineering which expanded its technological portfolio.[14]
In 2009 Maire Tecnimont's acquisition ofStamicarbon allowed it to combine its traditionalEPC activities with technology licensing services.[15] Also in 2009, it entered the renewable energy industry with the creation of Met NewEn. The new company operates in thebiomass and concentratedsolar power sector.[16][17]
On 2 August 2010, the company signed a lease contract for twoGaribaldi Towers in Milan.[18][19] The same year, it acquiredTechnip KTI SpA (TKTI) through the acquisition of a parent company: Sofipart Srl.[20] In the first half of 2011, Maire Tecnimont created a new company named Tecnimont Civil Construction (TCC). The objective is to synergistically boost the Maire Tecnimont's expertise in the infrastructure and civil engineering sectors.[21]
Starting in 2014-15, Tecnimont was part of a consortium along withOdebrecht and Estrella to develop the Punta Catalina coal-fired power plant in theDominican Republic. Tecnimont was responsible for engineering and construction works, with the initial contract value estimated at approximately US$1.9 billion.[22][23] Following disputes over cost increases, the contractor consortium demanded additional funding to complete the project which was agreed to by the Dominican government. After the settlement, the plant was completed and commissioned.[24]
In 2016 Maire Tecnimont launched a new phase to bring about the digital transformation of its production processes[25] and to open up to new business areas, such as renewable energy and green chemistry.[26]
In November, 2018 Maire Tecnimont set upNextchem, a new company to overseegreen chemistry projects and projects focusing on energy transition. Among these, the construction of plants for the mechanicalrecycling of plastic, such as the one inBedizzole (Brescia).[27][28] In July 2019, it's divisionStamicarbon acquired the Dutch IT company Protomation to continue its process of business digitalisation.[29]
Maire Tecnimont maintained its operations in Russia during the period of international sanctions following Russia's invasion ofUkraine.[30] The company's actions faced criticism from organizations advocating for corporate responsibility in global conflicts.[31]
Tecnimont: engineering company and main contractor in chemicals,petrochemicals,oil and gas, energy, infrastructure and civil engineering, with a 50% market share in low-densitypolyethylene plants and 30% inpolyolefin plants[34][35]
KT – Kinetics Technology: process engineering contractor[36]
Stamicarbon:[37] services company acquired from DSM in October 2009, specializing inlicensing and intellectual property, world market leader inurea technology with a 54% market share[34][35]
