Solvay sell German-based refrigerant business, pharma propellants Daikin

Solvay to sell German-based refrigerant business, pharma propellants to Daikin

11:09 AM, 30th January 2015
Solvay to sell German-based refrigerant business, pharma propellants to Daikin

BRUSSELS, BELGIUM: Solvay has agreed to sell its German-based refrigerant business and pharma propellants to Daikin in Japan, as its Special Chemicals Global Business Unit is gearing its activities towards selective high value-added segments in fluorine specialties and high purity chemicals.

Solvay’s Global Business Unit (GBU) Special Chemicals will divest all of its businesses on its site in Frankfurt. About 75 employees will be transferred to Daikin. Completion of the transaction is subject to customary closing conditions, including regulatory clearance in Germany and Austria.

“The past 18 months have shown Solvay Special Chemicals’ good progress in the execution of its refocused growth strategy. Portfolio reviews will continue to single out markets that require distinctive know-how, looking to reinforce our innovations and develop as a niche player along with our partners,” said Bernd Wilkes, President of GBU Special Chemicals, Solvay.

 

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