Belgium/Italy: Speciality Chemicals Solvay Wraps Up Sale of Polyolefin Cross-Linkable Compounds Business
Solvay has finalized the divestment of its polyolefin cross-linkable compounds business in Italy to family-owned group Finproject.
Brussels/Belgium — The transaction is part of the companies strategy, which seeks to transform the manufacturer into a mulit-speciality chemical group. Further divestment measures included the sale of its 70.59 % stake in Solvay Indupa to Brazilian chemical group Unipar Carbocloro, earlier this year.
Based in Roccabianca, Parma, the business' compounds are used in applications in the wire and cable, as well as pipe industries, generating sales of € 82 million in 2016. Finproject is a manufacturer of injection molded foam, polyolefin-based compounds and PVC compounds.