The Solvay Group (Brussels, Belgium) agreed to sell its North American and European amphoteric surfactant business to OpenGate Capital, a private equity firm with headquarters in Los Angeles. The sale includes the three main production sites supporting the amphoteric product lines located in University Park, Illinois (USA), Genthin, Germany, Halifax, United Kingdom, and a tolling business in Turkey. The agreement also includes tolling and service agreements between Solvay and OpenGate to ensure a seamless transition and minimal customer disruption.
“This agreement represents another critical step in the execution of our strategic plan as we further focus our home & personal care portfolio on growing specialty formulations and custom solutions,” commented Michael Radossich, president of Solvay’s Novecare global business unit.
In OpenGate Capital, Solvay has identified a strong buyer for the North American and European amphoteric surfactant business while the sale will generate additional resources for Solvay to invest in its strategic growth segments as part of its portfolio simplification journey. Solvay expects to close the sale by the end of March pending completion of all required social dialogues and regulatory approvals.
by Mary Page Bailey
Neste will provide Avfuel with SAF in volumes able to meet the growing demands of Avfuel’s customers, including fixed base operators (FBOs), airports, flight departments, original equipment manufacturers (OEMs) and commercial operators.
Operation of the plant is a joint enterprise between Borealis, TOMRA and Zimmermann. Borealis is responsible for the plant’s commercial success and contributes its expertise and knowledge in innovation, recycling and compounding.
Johnson Matthey announces that Stephen Oxley will join the company’s board on 1st April 2021 as Chief Financial Officer (CFO).