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Solvay to sell refrigerant and pharma propellants operations
Feb. 3, 2015
Solvay
BelgiumFollow
BelgiumSolvay has signed a deal to sell its refrigerant and pharma propellants operations in Germany to Japanese firm Daikin.
The sale is part of Solvay special chemicals global business unit (GBU) strategy to focus on selective segments in fluorine specialties and chemicals.
Under the deal, Solvay GBU special chemicals businesses in Frankfurt will be transferred to Daikin.
Around 75 employees will also be moved to the Japanese firm.
The transaction is subject to the receipt of regulatory approvals in Germany and Austria.
Solvay GBU special chemicals president Bernd Wilkes said: "The past 18 months have shown Solvay special chemicals' good progress in the execution of its refocused growth strategy.
"Portfolio reviews will continue to single out markets that require distinctive know-how, looking to reinforce our innovations and develop as a niche player along with our partners."
In 2013, Solvay sold its life science activities to International Chemical Investors Group.
The special chemicals business has been serving the German agrochemical industry with fluor specialties as well as expanded production capabilities in China to cater to the electronics industry.
The unit recently acquired German Flux Schweiß- und Lötstoffe, to strengthen its aluminum brazing capabilities and product portfolio.
Earlier this month, Solvay GBU peroxides announced plans to build a hydrogen peroxide grade manufacturing and filling facility in the Netherlands.
Source: chemicals-technology.com
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