Home / Knowledge / News / Textiles / 'Solvay transforming into specialty chemicals group'
'Solvay transforming into specialty chemicals group'
04
May '16
Solvay headquarters in Brussels, Belgium. Courtesy: Jean Michel Byl - Solvay photolibrary
Solvay headquarters in Brussels, Belgium. Courtesy: Jean Michel Byl - Solvay photolibrary
With an aim to transform itself into a specialty chemicals group, Belgian chemical company Solvay is selling its 70.59 per cent stake in Solvay Indupa to Brazilian chemical group Unipar Carbocloro.

As per a definitive agreement signed by both companies, the transaction is based on a total enterprise value of $202.2 million, subject to customary adjustments.

Listed on the Buenos Aires Stock Exchange, Solvay Indupa produces PVC and caustic soda at its two production sites in Brazil and Argentina, employing 956 persons.

“Solvay's divestment of Indupa follows our announced early exit of our European PVC joint venture as Solvay is transforming into a specialty chemicals group,” said Vincent De Cuyper, member of Solvay's executive committee. 

“In acquiring Solvay Indupa, Unipar will strengthen its strategic position in the caustic soda and chlorine value chain extending its chemical footprint in PVC and allowing for the further development of Indupa,” De Cuyper added. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Last-minute changes in USMCA keeps lid on e-com

Textiles | On 18th Oct 2018

Last-minute changes in USMCA keeps lid on e-com

Eleventh hour changes to a new trade deal torpedoed US hopes of...

Courtesy: Haggar

Apparel/Garments | On 18th Oct 2018

Haggar uses Repreve fibre made of recycled water bottles

Haggar, a US based apparel brand established in 1926, has recycled...

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

Textiles | On 18th Oct 2018

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

The revenue from the petrochemicals segment of Reliance Industries...

Interviews View All

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search