31 March 2010 18:38 [Source: ICIS news]
LONDON (ICIS news)--Solvay’s specialty polymers affiliate, Solvay Solexis, is to focus its research and development (R&D) efforts on developing low-carbon energy sources and meeting the increasing need for fresh water for human consumption, the Belgium-based chemical producer said on Wednesday.
The group added that Solexis' overall R&D costs on energy and water would amount to a sizeable part of Solvay’s total R&D budget, while the projected sales growth for these applications were likely to contribute over €100m ($133m) of Solexis’ total sales growth in the coming five years.
Solvay’s strategic business unit for specialty polymers recorded sales of €805m in 2009, a fall of 19.3% from 2008.
The group added that it would on average reinvest about 6% of its specialty polymers sales into R&D.
“Achieving sustainable development harbours formidable opportunities, not only in business terms but also as a strong motivator for all our stakeholders,” said Pierre Joris, managing director of Solvay Solexis.
($1 = €0.75)
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