SOLVAY and SYENSQO revealed as new company names
16 Juin 2023 - 9:30AM
SOLVAY and SYENSQO revealed as new company names
SOLVAY and SYENSQO revealed as new company names
In the context of the proposed split, the SOLVAY name
will be maintained for EssentialCo, a leader in essential chemistry
while SYENSQO will become the new name of
SpecialtyCo, which will explore the future of science.
Brussels, June 16, 2023
Solvay announces the new names of the future independent
publicly traded companies that will result from its planned
separation into two industry leaders: SOLVAY and SYENSQO. The new
names will be effective upon completion of the planned separation
of Solvay, which is on track to be completed in December 2023,
following the satisfaction of customary conditions.
Dr. Ilham Kadri, CEO of Solvay: "Solvay has a 160-year legacy
that will be passed on for generations to come and the names of our
new companies reflect this perfectly. SOLVAY will create and
deliver essential solutions in housing, health, nutrition and
mobility, which fulfill the basic needs of humanity. It will enable
vital solutions that are at the heart of people’s everyday lives.
SYENSQO will be a company of explorers who will usher in
breakthroughs that will advance humanity. I am so proud of our
teams who have made this possible and excited about the bright
future of both SOLVAY and SYENSQO."
SOLVAY
SOLVAY, the new name for EssentialCo, will carry on the legacy
of mastering the elements that are essential for a sustainable
world. It links back to its founders who mastered the soda ash
process by achieving a technological breakthrough, which has
enabled many other disruptive innovations and was a major step
forward in terms of sustainability.
SOLVAY will focus on providing society and generations to come
with sustainable solutions meeting their most essential needs such
as purifying the air we breathe and the water we drink, preserving
our food supplies, protecting our health and well-being, creating
eco-friendly clothing, making the tires of our cars more
sustainable and cleaning and protecting our homes.
It will comprise leading mono-technology businesses including
Soda Ash, Peroxides, Silica, Coatis and Special Chem, which
generated approximately €5.6 bn in net sales in 2022. The company
will provide technologies that are proven to be essential across a
number of attractive and resilient end markets and will benefit
from its number one leadership position.
SYENSQO
SYENSQO, the new name for SpecialtyCo, will be a science company
of explorers who seek unexpected perspectives, enable breakthrough
innovations and explore the future of science. It has a strong
connection to Solvay’s history of science at the service of
mankind, like the Solvay Conferences for Physics and Chemistry. The
breakdown of the name is as follows:
- SY links back to the first and last letters in Solvay.
- EN is a nod to Ernest Solvay’s name.
- SYENS refers to Solvay’s scientific heritage, which goes back
to 1911, when its founder Ernest Solvay brought 24 of the world’s
most brilliant scientific minds together - including Albert
Einstein and Marie Curie - for the first Solvay Conference. In
fact, the impact was so profound that the Unesco World Heritage
Committee decided to inscribe the archives of the Solvay
Conferences for Physics and Chemistry in its Memory of the World
Register.
- Q points to this same 1911 conference, which laid the
foundations for Quantum Physics, and launched one of the greatest
scientific journeys ever, still feeding cutting-edge innovation
today.
- And QO is for company.
SYENSQO will play a key role in the future of clean mobility, by
making the next generation of EV batteries possible and by
advancing green hydrogen and thermoplastic composites. It will
bring about breakthroughs in bio-based solutions, natural
ingredients, circular solutions, and more.
SYENSQO will include the highly innovative businesses Specialty
Polymers, Composites, Novecare, Aroma, Technology Solutions, Oil
& Gas, as well as the four growth platforms in batteries, green
hydrogen, thermoplastic composites, and renewable materials and
biotechnology. The businesses within SYENSQO generated
approximately €7.9 bn in net sales in 2022.
Solvay will continue to provide regular updates on the
separation through a dedicated section of the website providing
ongoing information about this important project.
Solvay (EU:SOLB)
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