Solvay completes sale of Formulated Resins business to ALTANA AG
Brussels, June 1, 2017 -- Solvay has completed the sale of its Formulated Resins business to ALTANA AG’s ELANTAS PDG Inc.
The divested Formulated Resins business line, formerly part of Solvay's Technology Solutions Global Business Unit, includes the product portfolio, manufacturing and R&D facility in Olean, New York, USA, and all associated technical, commercial and administrative staff.
Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Net sales were € 10.9 billion in 2016, with 90% from activities where Solvay ranks among the world’s top 3 leaders. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.