Solvay secures 100% ownership of Rare Earths joint venture in Japan
Solvay announced it has taken full ownership of its joint venture stake Solvay Special Chem Japan (SSCJ) by acquiring 33% of the minority shares from Santoku Corporation.
As the sole owner of this operation located in Anan, Japan, Solvay has advanced its capabilities in the production of Rare Earth specialities used for emissions control in automotive, semiconductor processing, and other emerging technologies including solid oxide fuel cells. This transaction further strengthens Solvay's global plans to leverage its exceptional industrial and technical capabilities in Rare Earths chemistry to play a key role in mobility, connectivity and electrification.
“This transaction marks a logical step forward in our global plan to expand our leadership in Rare Earths specialties,” said lham Kadri, Solvay CEO. “It follows our recent announcement to invest in our La Rochelle, France operations with an intention to develop a major hub for Rare Earths magnets in Europe. We are very excited about our ability to strengthen our leadership in Rare Earths as it is directly aligned with Solvay’s ambition to bring more sustainable solutions to growing, attractive markets including electric vehicles and electronics.”
Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 21,000 employees in 63 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €10.1 billion in 2021. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.