Refrigerants Solvay sells Refrigerants Business to Daikin
Solvay announced that it is further focussing its activities by selling its refrigerant business and pharma propellants in Frankfurt, Germany, to the Japanese Daikin.
Brussels/Belgium — Solvay is selling its refrigerant business and pharma propellants in Frankfurt/Germany, to Daikin in Japan. Solvay’s special chemicals global business unit is focussing its activities towards selective high value-added segments in fluorine specialties and high purity chemicals.
Solvay's global business unit (gbu) special chemicals will sell all its businesses on the Frankfurt site. About 75 employees will be transferred to Daikin. Completion of the transaction is subject to customary closing conditions, including regulatory clearance in Germany and Austria.
"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," said Bernd Wilkes, President of Solvay's GBU special chemicals.
In 2013 Solvay sold its life science activities. Since then, special chemicals has been focusing on fluor specialities with a new facility in Germany serving applications in the agrochemical industry and expanded production capacity in China to support strong growth in the electronics industry. It recently strengthened its aluminum brazing capabilities and products with the acquisition of German Flux Schweiß- und Lötstoffe.