Key Developments: Solvay SA (SOLB.BR)
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Latest Key Developments (Source: Significant Developments)
Solvay SA and SIBUR Holding OAO Form Joint Venture Ruspav
Solvay SA announced that the Company and Russian petrochemical company SIBUR Holding OAO (SIBUR) have signed an agreement to establish Ruspav, a 50/50 joint venture for the production of surfactants and oilfield process chemicals in Dzerzhinsk, Russia. Ruspav will be located near SIBUR's petrochemicals operations, 400 kilometers east of Moscow, and is expected to be operational in 2015. SIBUR will contribute its raw materials, production and logistics capabilities to the joint venture. The Company's Novecare will provide its knowledge in surfactant technologies, its knowledge of formulations and market applications and its customer network, particularly in the home & personal care and oil & gas markets. Full Article
Solvay SA Launches Two Recycling Units in France
Solvay SA announced that it is opening two recycling units in France. The project launched in 2007 required two years of research and development followed by two years of industrialization studies and site selection. The investment was officially approved in 2011. The Group decided to focus on low-energy light bulbs because the recovery channels already exist. Used light bulbs are collected, sorted and processed by specialized companies who recycle their different components (glass, metals, plastics, mercury). The luminescent powders are shipped to the Group's facilities: to Saint-Fons (Rhone-Alpes, France), where the rare earth concentrate is extracted and subsequently to La Rochelle (Charente Maritime, France). Full Article
Solvay SA Increases Specialty Polymers Production Capacity by 70% in India
Solvay SA announced a capacity increase of 70% at its Panoli plant, India, for the production of its high performance polymers KetaSpire polyetheretherketone (PEEK) and AvaSpire polyaryletherketones (PAEK). Nearly half of this capacity increase has already been implemented and brought on-line. The second phase of the project will be completed by mid 2013 and will allow the plant to continue to satisfy growth in demand. Full Article
Peugeot SA Dropped From CAC 40 Index and Replaced by Solvay SA-Reuters
Reuters reported that Peugeot SA is to be dropped from France's blue chip index CAC 40 and will be replaced by Solvay SA Full Article
Solvay SA's Aroma Performance Strikes Multi-Year Contract With Bollore Group-Hugin
Hugin reported that Solvay SA's Global Business Unit Aroma Performance will supply two Bolloré Group affiliates, Batscap and BatHium Canada Inc, with specialty Lithium Salt grades (LiTFSI) for their Lithium-Metal-PolymerR (LMP) batteries. Aroma Performance will manufacture its lithium salt electrolytes in its manufacturing specialty fluorinated derivatives plant at Salindres, France and in China. This contract complements the strategic supply contract with both companies for specialty grades of Solvay's high performance polymer Solef which it struck last year. Full Article
Solvay SA Reiterates FY 2012 REBITDA Outlook
Solvay SA announced that it reiterate its expectation to achieve a full year REBITDA for fiscal year 2012 similar to the fiscal year 2011 pro forma level. Full Article
Solvay SA Starts Production Of Specialty Polymers Compounds In China
Solvay SA announced that its specialty polymers compounding plant located in Changshu, province of Jiangsu in China, has started to serve the local growing demand for specialty polymers compounds. The plant is mainly serving China`s customers in the electronics, automotive, consumer and industrial applications markets with compounds of Amodel® polyphthalamide (PPA), Ixef® polyarylamide (PARA) and Kalix® (modified PARA). This plant required an investment of EUR 21 million and is fully adaptable for future expansion of overall capacity as well as production of compounds made out of other performance polymers. It is adjacent to another specialty polymers plant which is under construction for the production of SOLEF Polyvinylidene Fluoride (PVDF), TECNOFLON Fluoroelastomers (FKM) and their essential monomer VF2. Full Article
Solvay SA to Build Bio-Based Epichlorohydrin Plant in China
Solvay SA announced that its Thai affiliate Vinythai will serve the Chinese epichlorohydrin market with a new production plant in Taixing, China. The plant with an initial capacity of 100,000 tons epichlorohydrin per year requires an investment of EUR 155 million and should become operational in the second half of 2014. The Chinese epichlorohydrin market is expected to grow on annual basis by 8%. Epichlorohydrin is a feedstock for the production of epoxy resins, used in applications such as corrosion protection coatings as well in the electronics, automotive, aerospace industry or wind turbine industry. The new plant located in the Taixing Economic Development Park will be based on the Company’s bio-based Epicerol technology. The plant will use as feedstock natural glycerin obtained as by-product from the production of biofuels. Full Article
Solvay SA Completes Sale of its 50% Stake in Pipelife to Wienerberger
Solvay SA announced that the Company has completed the sale of its 50% stake in Pipelife, one of the suppliers of plastic pipe systems, to Wienerberger. For Solvay SA the deal represents an Enterprise Value of about EUR 257 million for its 50% stake when taking into account assumption of liabilities, including pensions and other debt-like items, for about EUR 85 million. The Company received in total EUR 172 million in cash for the shares including a special dividend of EUR 10 million. Full Article
Solvay SA Opens Innovation Center In India-Hugin
Hugin reported that Solvay SA has opened its new Research, Development and Technology Centre at Savli, Gujarat State, India. The Centre will focus its efforts mainly on the development of high-performance polymers, organic chemistry, nano composites and green chemistry. It will employ over 200 researchers when fully operational. The Centre has also established three fellowships for research in sustainable chemistry, nano technology and polymer science at the Maharaja Sayajirao University in Vadodara. Full Article
Deals of the day -- mergers and acquisitions
May 7 - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
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