Home / Knowledge / News / Textiles / Brazil's CADE clears Solvay's 70.59% stake sale in Indupa
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


Must ReadView All

Azerbaijan's Gilan Textile Park raises exports by 40%

Apparel/Garments | On 18th Aug 2018

Azerbaijan's Gilan Textile Park raises exports by 40%

Azerbaijan's Gilan Textile Park has raised its exports by 40 per cent ...

CPD studies living cost of Bangladesh RMG workers

Apparel/Garments | On 18th Aug 2018

CPD studies living cost of Bangladesh RMG workers

The living cost of readymade garment (RMG) workers in Bangladesh...

Brazilian cotton price index returns to April 2018 level

Textiles | On 18th Aug 2018

Brazilian cotton price index returns to April 2018 level

Cotton prices dropped in Brazil in the first fortnight of August as...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Tom Adeyoola

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

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Paige Mullis
Glen Raven Inc

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

Silke Brand-Kirsch
Schlegel und Partner

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

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Silvia Venturini Fendi
Fendi s.r.l

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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