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

VF Corporation to split into two independent companies

Apparel/Garments | On 14th Aug 2018

VF Corporation to split into two independent companies

VF Corporation, a global leader in branded lifestyle apparel,...

Courtesy: Good On You

Apparel/Garments | On 14th Aug 2018

Good On You in Oz adds 500 European brands to rating app

Australia-based Good On You’s brand-rating app has recently added 500 ...

Courtesy: USDA/FAS

Textiles | On 14th Aug 2018

US cotton exports in 2017-18 highest in over a decade

Cotton exports from the US in 2017-18 reached their highest level...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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


August 2018

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

news category


Related Categories:

Advanced Search