Solvay plans selling its polyvinyl chloride compound business OpenGate Capital

Solvay to sell PVC business to OpenGate

11:47 AM, 10th April 2014
Solvay plans selling its polyvinyl chloride compound business

BRUSSELS, BELGIUM: Solvay has signed an agreement to sell its polyvinyl chloride (PVC) compound business Benvic Europe to US investment company OpenGate Capital, further improving the resilience of the Group’s portfolio. The closing of this transaction is expected in the first half of 2014 and is subject to the approval of the anti-trust authorities.

“This divestment is part of Solvay’s transformation to achieve higher growth and greater cash returns and helps to reduce its exposure to the economic cycle. OpenGate Capital’s long-term investment strategy will allow Benvic to seize growth opportunities in Europe,” said Jacques van Rijckevorsel, Member of Executive Committee, Solvay.

 

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