Solvay to sell its polyolefin cross-linkable compounds business
(Thomson Reuters ONE) -
Brussels, March 30, 2017 --- Solvay has signed a definitive agreement to sell
its polyolefin cross-linkable compounds business in Italy to family-owned group
Finproject SpA.
"Following Solvay's transformation, polyolefin cross-linkable compounds no
longer fit within the portfolio of high-performance specialty polymers. Solvay
has consistently grown the value of this business and its divestment contributes
to the upgrade of Solvay's specialties portfolio," said Augusto Di Donfrancesco,
President of Solvay's Specialty Polymers Global Business Unit.
Based in Roccabianca, Parma, the business' compounds are used in applications in
the wire and cable, as well as pipe industries, generating sales of ? 82 million
in 2016.
Finproject is a leading manufacturer of injection molded foam, polyolefin-based
compounds and PVC compounds.
The transaction is expected to close in the second quarter of 2017 and is
subject to customary closing conditions.
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|Solvay is a multi-specialty chemical company, committed to developing|
|chemistry that addresses key societal challenges. Solvay innovates and|
|partners with customers in diverse global end markets. Its products and|
|solutions are used in planes, cars, smart and medical devices, batteries, in|
|mineral and oil extraction, among many other applications promoting|
|sustainability. Its lightweighting materials enhance cleaner mobility, its|
|formulations optimize the use of resources and its performance chemicals|
|improve air and water quality. Solvay is headquartered in Brussels with around|
|27,000 employees in 58 countries. Net sales were ? 10.9 billion in 2016, with|
|90% from activities where Solvay ranks among the world's top 3 leaders. Solvay|
|SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB -|
|Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded|
|through a level-1 ADR program. |
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To read this release in PDF:
http://hugin.info/133981/R/2090376/790539.pdf
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvay S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2017 - 07:31 Uhr
Sprache: Deutsch
News-ID 533311
Anzahl Zeichen: 3456
contact information:
Town:
Brussels
Kategorie:
Business News
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