Key Developments: Solvay SA (SOLB.BR)

SOLB.BR on Brussels Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Solvay SA to buy the Ryton polyphenylene sulphide business from Chevron Phillips Chemical Company LLC
Thursday, 4 Sep 2014 02:30am EDT 

Solvay SA:Announces that it has signed an agreement to buy the Ryton polyphenylene sulphide (PPS) business from United States-based petrochemical company Chevron Phillips Chemical Company LLC for $220 million.Says the Group will buy from Chevron Phillips Chemical Company LLC two Ryton PPS resin manufacturing units in Borger, Texas.  Full Article

Accsys Technologies Plc enters into co-operation agreement with Solvay SA
Wednesday, 6 Aug 2014 02:00am EDT 

Accsys Technologies Plc:Confirms that it has entered into a binding term sheet with Solvay, in respect of a three year non-exclusive global co-operation agreement to develop Accoya.Says Solvay SA confirmed its intention to build a 63,000 cubic-meter Accoya wood production plant in Freiburg, Germany, with operations expected to start in the first half of 2016.  Full Article

Solvay confirms FY 2014 financial guidance
Thursday, 31 Jul 2014 01:38am EDT 

Solvay SA:Confirms target of high single-digit year-on-year REBITDA growth in FY 2014 at prevailing foreign exchange rates.  Full Article

Solvay to sell its United States-based Eco Services business unit to CCMP Capital
Thursday, 31 Jul 2014 01:22am EDT 

Solvay SA:Says it has signed binding agreement to sell its sulfuric acid virgin production and regeneration business Eco Services to affiliates of CCMP Capital Advisors LLC.Transaction terms correspond to enterprise value of $890 million.  Full Article

Solvay SA and INEOS to create INOVYN(TM)
Thursday, 26 Jun 2014 01:31am EDT 

Solvay SA:Signs a definitive agreement with INEOS to create a player in chlorovinyls, to be named INOVYN(TM).Says the joint venture is expected to be effective by year-end following the divestments required by the European Commission.Says until completion, Solvay SA and INEOS will continue to run their businesses separately.Says the terms of the joint venture agreement have been simplified and adjusted to the remedies as well as challenging market conditions.Says Solvay SA will receive an upfront payment of 175 million euros at closing and transfer liabilities worth 250 million euros into the joint venture.Says It will exit INOVYN(TM) after three years, when Solvay will receive additional cash proceeds targeted at 250 million euros.Says these final cash proceeds at exit will be adjusted based on the joint venture's average REBITDA performance during its three-year period, with a minimum exit payment of 75 million euros.  Full Article

Solvay completes sale of PVC compound business to OpenGate Capital
Wednesday, 4 Jun 2014 03:51am EDT 

Solvay SA:Completes sale of its polyvinyl chloride (PVC) compound business Benvic Europe to United-States based investment company OpenGate Capital.  Full Article

Fitch downgrades Solvay to 'BBB+'; outlook stable-DJ
Monday, 19 May 2014 12:28pm EDT 

Solvay SA:Fitch downgrades Solvay to 'BBB+'; outlook stable-DJ.Decision due to impact of acquisitions on company's financial situation.  Full Article

European Commission clears Solvay and INEOS joint venture
Thursday, 8 May 2014 08:45am EDT 

Solvay SA:Solvay and INEOS obtain European Commission clearance for their proposed 50/50 chlorvinyls joint venture.Commission clearance is subject to implementation of agreed remedy package comprising divestment of INEOS owned assets.Membrane chlorine plant and EDC/ VCM plants at Tessenderlo, Belgium; PVC plant at Mazingarbe, France; PVC plant at Beek, Netherlands; PVC and VCM plants at Wilhelmshaven, Germany; and EDC plants at Runcorn, UK to be divested.Commission requires as well membrane chlorine plant at Runcorn to be placed in joint venture between INEOS and Solvay joint venture and new owner of aforementioned plants.Required remedy package must be implemented before joint venture can be formed.INEOS and Solvay to run their businesses separately until completion of transaction, expected in Q4 2014.  Full Article

Akzo Nobel and Solvay seal partnership with EY to monitor sustainable raw material use
Tuesday, 6 May 2014 08:00pm EDT 

Akzo Nobel NV:Akzo Nobel and Solvay SA have joined forces with EY (Ernst & Young) to jointly develop monitoring system that tracks and quantifies use of renewable raw materials in paints, coatings and other applications.Solvay, Akzo Nobel and EY will develop "chain of custody methodology" to ensure that even in situations where no physical segregation of petro and bio-based materials is practiced, volumes may still be assigned and reported.  Full Article

Solvay renews JV agreement with Invista
Friday, 25 Apr 2014 01:31am EDT 

Solvay SA:Renews joint venture agreement with Invista to manufacture adiponitrile (ADN), key intermediate in production of Polyamide 6.6.Long-term agreement clarifies rules of control and operations of Butachimie, in which both companies own 50 pct stake.Butachimie operates ADN production facility in Chalampe, France.Both parties agree that Butachimie is to benefit from butadiene-based ADN technology, owned exclusively by Invista.Agreement also gives Solvay option to reserve capacity in new ADN plant Invista plans to build in China.  Full Article

BRIEF-Solvay buys specialty polymers business Ryton PPS for $220 mln

* Solvay expands its specialty polymers offerings with Ryton PPS acquisition

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