Belgium's Solvay acquires fluorspar mine in Chiprovtsi, Bulgaria

22 February 2011 08:57  [Source: ICIS news]

SINGAPORE (ICIS)--Belgian specialty chemicals maker, Solvay, said on Tuesday it has acquired a fluorspar mine in Chiprovtsi, Bulgaria, from Italian firm N&N Group for an undisclosed amount.

Fluorspar is the key raw material for hydrofluoric acid, which is used in the production of fluorinated chemicals and polymers.

“This strategic acquisition reinforces the vertical integration of Solvay's high added-value fluorinated specialty polymers and fluorinated special chemicals production at a competitive cost,” the company said in a statement.

The deal would include the transfer of all N&N's fluorspar concession and exploration rights to Solvay, the statement said.

Solvay said it expects to increase its production of acid grade fluorspar to at least 50,000 tonnes/year by the end of 2011.

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By: Nurluqman Suratman



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