14 May 2013 19:33 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Belgian specialty chemicals producer Solvay said on Tuesday that Brazilian firm Grupo M. CASSAB will market and distribute its sodium bicarbonate for the production of animal feed in Brazil.
M. CASSAB, the second largest chemicals distributor in Brazil, will market the sodium bicarbonate under the Bicar Z brand name, Solvay said.
Financial details of the deal were not disclosed.
“This agreement with M. CASSAB enables us to expand our operating range and gives us the capacity to supply the entire Brazilian market with sodium bicarbonate for animal feed,” said Solvay business manager Alex Sant’Anna.
Solvay said on Monday that its first-quarter group net income rose by 26% year on year to €63m ($82m), while group net sales fell by 3% to €3.01bn.
The Brussels-based company reported that its “businesses in North America and Asia performed well, but remained subdued in Latin America.”
($1 = €0.77)
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