INOVYN: Solvay exits PVC joint venture as planned
With all regulatory clearances given, Solvay (Brussels / Belgium; www.solvay.com) on 7 July announced that it had completed the divestment of its shares in PVC and VCM producer Inovyn (London / UK; www.inovyn.com). The latter is now wholly owned by former joint venture partner Ineos (Rolle / Switzerland; www.ineos.com). In line with the earlier agreement (see Plasteurope.com of 01.04.2016), Ineos paid Solvay EUR 335m for its stake in Inovyn.
About Solvay:
Asking more from chemistry for 150 years
Created in 1863, Solvay is a global company driven by proud and committed chemists. With our historical anchorage in Europe, our products serve diversified markets worldwide, from consumer goods to energy, with one main aim – to improve quality of life and customer performance.
The drive to achieve our aim has resulted in 90 percent of our revenue being generated from businesses that are among the top three global leaders in their field.
Businesses
It is through our research and innovation that the leadership positions of our businesses are strengthened. Benefitting from new technologies and sustainable developments, our businesses plan to focus on:
- Producing new materials that are more effective and eco-efficient
- Developing renewable chemistry by promoting the use of renewable raw materials and recycling processes
- Contributing to the creation of sustainable energy solutions, such as photovoltaics and batteries
- Producing more efficiently and responsibly by optimizing resource utilization
- Supporting the growth of expanding markets
- Developing more responsible consumer products
