Sector News

Solvay Agrees To Exit Refrigerants With Sale Of Frankfurt Businesses To Daikin

January 30, 2015
Energy & Chemical Value Chain
(RTTNews.com) – Belgium-based chemical industrial group Solvay SA (SVYSF.PK, SVYZY.PK) Friday said it has agreed to sell its German-based refrigerant business and pharma propellants to Daikin in Japan, as its Special Chemicals Global Business Unit is gearing its activities towards selective high value-added segments in fluorine specialties and high purity chemicals.
 
Solvay’s Global Business Unit or GBU Special Chemicals will divest all of its businesses on its site in Frankfurt. About 75 employees will be transferred to Daikin.
 
Completion of the transaction is subject to customary closing conditions, including regulatory clearance in Germany and Austria.
 
The sale of the Frankfurt businesses follows the exit of the Life-Science activities in 2013. Since then, Special Chemicals has been focusing on fluor specialities with a new facility in Germany serving applications in the agrochemical industry and expanded production capacity in China to support strong growth in the electronics industry.
 

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