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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.

Feature Article – Covid-19 update: How the industry is responding

The news is entirely dominated by the coronavirus pandemic. Here, we summaries some of the key developments in the fine and speciality chemicals industry so far in April

Multiple companies are turning spare capacity over or building new capacity to supply hand sanitiser. Leading the way is Ineos, which had already built three such plants in the UK, France and Germany and has now announced plans to build a fourth at Etian, France, to serve hospitals in Paris, north-eastern France and Belgium.

Solvay in catechol JV

Solvay has formed a joint venture with Indian speciality chemicals manufacturer Anthea for the production of catechol derivatives.

How Solvay plans to GROW

Solvay has announced its new 'GROW' strategy, following what CEO Ilham Kadri described as "a comprehensive strategic review of our entire portfolio". The acronym comes from aims specific to the company's three realigned segments and the Solvay One operating model.
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