Solvay and INVISTA renew their joint venture agreement for the long term production of polyamide intermediates
This long-term agreement clarifies the rules of control and operations of Butachimie, in which both companies own a 50 percent stake. Butachimie operates the world’s largest ADN production facility in Chalampé, France.
Both parties have agreed that Butachimie would benefit from the latest and best available butadiene-based ADN technology, which is owned exclusively by INVISTA.
The agreement also gives Solvay an option to reserve capacity in the new ADN plant INVISTA plans to build in China.
"This agreement gives us long term visibility for our joint activity and will allow Solvay’s Polyamide & Intermediates global business unit to improve its competitiveness. Moreover, it provides more flexibility for our mid-term strategic development,” said Jean-Pierre Clamadieu, Chief Executive Officer of Solvay.SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. Solvay generates 90% of its net sales in activities where it is among the world's top three players. It serves many markets, varying from energy and the environment to automotive and aeronautics or electricity and electronics, with one goal: to raise the performance of its clients and improve society's quality of life. The group is headquartered in Brussels, employs about 29,400 people in 56 countries and generated 9.9 billion euros in net sales in 2013. Solvay SA is listed as SOLB.BE on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB:BB - Reuters: SOLB.BR).