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Solvay invests in DMC

Through its own venture capital fund of Solvay Ventures, Solvay has made an unspecified investment in US-based DMC (Dynamic Metabolic Control) Biotechnologies. The $34-million Series B funding round also included Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures and Michelin.

Chemical companies collaborate on low-carbon initiative

Ten major global chemical sector companies have agreed with the World Economic Forum (WEF) to establish what they called “a breakthrough, pre-competitive development platform to accelerate net-zero climate technologies”. They are BASF, Dow, DSM, Solvay, Clariant, Covestro, Mitsubishi Chemical, Air Liquide, Sabic and Sibur.

Univar works with Solvay in Brazil

Univar Solutions has reached an agreement to serve as Solvay’s first distribution partner for the agrochemical market in Brazil. This covers agrochemical defensives, adjuvants and fertilisers. It is the first time Solvay has named a distributor for this market in the country.

Solvay, Ashland complete buys

Two recent acquisitions that are both largely focused in the personal care arena were both completed almost simultaneously. Solvay completed the sale of its amphoteric surfactant business to OpenGate Capital, while Ashland finalised that of the personal care business of Schülke & Mayr from investment firm EQT.

Solvay furthers G.R.O.W. strategy

During its annual results presentation, Solvay revealed that it is taking steps to organize its Soda Ash & Derivatives business into a separate legal structure. This is part of the G.R.O.W. strategy, under which the Materials, Chemicals and Solutions segments were each given distinct mandates that reflect the differing dynamics in their markets.

Solvay in surfactants exit

Solvay Group has agreed to sell its North American and European amphoteric surfactant business to Los Angeles private equity firm OpenGate Capital. This is expected to close by the end of March, subject to consultation and regulatory approvals. Terms were not disclosed.

Solvay to take impairment

In a Q2 trading update, Solvay revealed that an impairment review is under way and likely to lead to a non-cash impairment of about €1.5 billion. This is the result of “the deterioration in short and mid term economic performance due to Covid-19,” the company said.

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