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Brazil's CADE clears Solvay's 70.59% stake sale in Indupa
10
Dec '16
Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia
Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia
Brazil's administrative council for economic defence (CADE) has cleared Solvay's agreed sale of its 70.59 per cent stake in Solvay Indupa to chemical group Unipar Carbocloro. The transaction, valued at $202.2 million when announced in May 20016, is now expected to be completed in the coming weeks. Solvay Indupa produces caustic soda in Brazil and Argentina.

Founded in 1948, Solvay Indupa is the fourth largest caustic soda producer in South America. With 956 employees and two production sites in Argentina and Brazil, Solvay Indupa had net sales of $ 588 million in 2015.

Caustic soda, or sodium hydroxide, is a strong base soluble in water obtained through electrolysis of the brine. It is used in the manufacturing of our daily life products or in applications within textile and several other industries.

As an international chemical and advanced materials company, Solvay assists its customers in innovating, developing and delivering high-value, sustainable products and solutions which consume less energy and reduce CO2 emissions, optimise the use of resources and improve the quality of life.

Solvay serves diversified global end markets, including automotive and aerospace, consumer goods and healthcare, energy and environment, electricity and electronics, building and construction as well as industrial applications.

Headquartered in Brussels, Solvay has about 30,900 employees spread across 53 countries. It generated pro forma net sales of €12.4 billion in 2015, with 90 per cent made from activities where it ranks among the world's top 3 players. (RKS)

Fibre2Fashion News Desk – India


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