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.
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.
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.