Solvay completes exit of INOVYN joint venture
Brussels, July 7, 2016 --- Solvay has today completed the divestment of its shareholding in INOVYN, bringing to an end its chlorovinyls joint venture with INEOS.
Solvay received exit cash proceeds amounting to €335 million.
The exit of the joint venture follows regulatory clearances from the relevant authorities.
An international chemical and advanced materials company, Solvay assists its customers in innovating, developing and delivering high-value, sustainable products and solutions which consume less energy and reduce CO2 emissions, optimize the use of resources and improve the quality of life. Solvay serves diversified global end markets, including automotive and aerospace, consumer goods and healthcare, energy and environment, electricity and electronics, building and construction as well as industrial applications. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of € 12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players. Solvay SA (SOLB.BE) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB:BB - Reuters: SOLB.BR).