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Solvay to split into two separate companies

 Last Update: 2022-04-25
 Source: Internet
 Author: User

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On March 15, Belgian chemical giant Solvay announced that the company will be split into two independent listed companies, EssentialCo and SpecialtyCo
.

The board members, management teams and official names of both companies will be announced at a later date

Among them, EssentialCo will include leading single technology businesses such as soda ash and derivatives, peroxides, silica and consumer chemicals, as well as performance fabrics and industrial services
.

These businesses are currently attributed to Solvay's Chemicals and Specialty Chemicals businesses and together generate net sales of approximately EUR 4.

Solvay said that the completion of the company's separation plan will create two strong industry leaders
.

They will have greater strategic and financial flexibility to focus on their respective business models, markets and shareholder preferences

SpecialtyCo is positioned as a leader in specialty chemicals with accelerated growth potential
.

The company is said to provide innovative value-added solutions to support a more sustainable world, generating above-market growth and strong returns

Solvay said that the two companies will adopt their own tailored capital structures, which will best support their respective value creation goals
.

SpecialtyCo will strive to achieve a stable investment grade rating

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Solvay's plan to split into two separate public companies

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Solvay to split into two separate companies

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