Solvay to sell its Charleston plant in the U.S. and associated phosphorus business
15 Novembre 2017 - 07:00AM
Brussels,
November 15, 2017 -- Solvay has agreed to sell its U.S.
facility in Charleston, South Carolina, and the phosphorus
derivatives-based products made at the plant to German specialty
chemicals company Lanxess. Employees at the site will also be
transferred.
"The divestment will strengthen Solvay's focus and
resources on our existing leadership positions in phosphine gas,
phosphine derivatives and phosphorous specialties," said
Michael Radossich, President of Solvay's Technology Solutions
Global Business Unit. "With Lanxess, our
Charleston employees and our customers will have a buyer with a
strategic, geographic and technical fit to expand the business and
its offerings."
The products at the site are used primarily as intermediates in
plastic additives, flame retardants and agricultural applications.
The business represents sales of approximately €65
million.
Completion of the transaction is subject to customary closing
conditions, including antitrust approvals, and is expected in the
first half of 2018.
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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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You can find here the press release
in PDF
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Source: Solvay S.A. via Globenewswire
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