Solvay to Separate Soda Ash Business as Part of Portfolio Simplification

Solvay SA of Belgium plans to organize its Soda Ash & Derivatives business into a separate and fully-controlled legal structure as part of its portfolio management actions. Also aligned with this strategic simplification, Solvay has reached agreements to sell its interests in six commodity business lines.

These include recent transactions for barium and strontium products, the European sodium percarbonate business, the commodity amphoterics business, the sodium chlorate business and related assets in Portugal, certain fluorine chemicals and a site in Korea, and the process materials product line. The group expects completion of these transactions in the first half of 2021.

Solvay says it will continue to explore other opportunities to further simplify its portfolio.

The company reported 2020 sales for its Chemicals segment of €2.95 billion (US$3.59 billion) compared with €3.33 billion (US$4.06 billion) in 2019. Soda ash and derivatives sales were down 12.7%, at €1.45 billion (US$1.76 billion). Segment sales improved by 2.6% in the fourth quarter versus the third quarter as demand for flat glass used in construction improved in the quarter, while demand for container glass used in the hospitality industry remained weak.

Volume 35, Issue 04

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