Solvay changes structure of business activities, leadership team

16 January 2013 16:23  [Source: ICIS news]

LONDON (ICIS)--Belgium chemicals firm Solvay on Wednesday announced changes to the structure of its business activities and leadership team, following the integration of France-based Rhodia, as it aims to improve its global competitiveness.

Solvay said the change have made it “more agile and in a better position to seize growth opportunities”. Solvay acquired Rhodia for €3.4bn ($4.5bn) in 2011.

"Today's Solvay is the result of the successful integration of Solvay and Rhodia and an extensive transformation,” said Jean-Pierre Clamadieu, chairman of Solvay's executive committee.

“Through the mobilisation of our teams, we have managed to convert the two former companies into one of the 10 largest chemical companies worldwide,” he added.

Effective from 1 January 2013, Solvay now has five operating segments: Consumer Chemicals, Advanced Materials, Performance Chemicals, Functional Polymers, and Corporate Business and Services.

The Consumer Chemicals segment serves the consumer products markets, and includes Aroma Performance, a producer of diphenols and derivatives, and Coatis, a Latin American producer of Phenol and Solvents. The business unit will also include Solvay’s Novecare business, which produces specialty surfactants, polymers, amines, solvents, guar and phosphorus derivatives for the agrochemicals, coatings, home & personal care, industrial manufacturing, and oil & gas industries.

Solvay’s Advanced Materials business unit will focus on performance applications addressing the needs of industries such as advanced transportation, healthcare, energy efficient tyres, automotive emission control, smart devices or hybrid vehicles batteries, the company said.

The Performance Chemicals business unit will focus on the production of peroxides, soda ash and bicarbonate, and will also contain the group’s Acetow business, which produces cellulose acetate tow for cigarette filters and supplies cellulose acetate flakes for the textile industry.

Solvay’s Functional Polymers segment brings together the chloro-vinyls chain and polyamide activities of the group to serve mainly the construction and infrastructure, automotive and electrical/electronics industries, it added.

The Corporate Business and Services organisation includes the Solvay Energy Services global business units and all the group’s corporate functions.

($1 = €0.75)

By: Franco Capaldo
+44 (0)20 8652 3214

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