Solvay to sell its shares in National Peroxide Ltd. to Wadia Group
Mumbai, March 28, 2017--- Solvay has signed a definitive agreement to sell its 25,1% shares in National Peroxide Limited (BOM:500298) to the Wadia Group, a conglomerates of corporate India and promoter shareholder of National Peroxide Limited.
Established in 1954 as a joint venture between the Wadia Group and Laporte, National Peroxide Limited is engaged in manufacturing hydrogen peroxide, sodium perborate and hydrogen gas. Solvay inherited National Peroxide Limited shares through the Interox deal with Laporte. The company has a fully integrated, manufacturing facility at Kalyan, Maharashtra.
The transaction is expected to close by the end of March.
SOLVAY PEROXIDES Global Business Unit is a worldwide market and technology leader in Hydrogen Peroxide. Providing functional qualities such as bleaching, oxidation or disinfection, it delivers innovative products and tailored services to the pulp, chemicals, aquaculture, food, mining, waste water treatment, home care and textile industries. SOLVAY PEROXIDES operates 18 plants in North and South America, Europe & Middle East, Asia and Australia. It runs the world’s biggest Hydrogen Peroxide plant in Map Ta Phut (Thailand). With its JV partner Peróxidos do Brasil, Solvay Peroxides is developing a new plant concept, myH2O2®, especially designed for installation at customer sites in remote locations. Innovation capacity and agility are two of GBU Peroxides’ strengths.
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. Pro forma 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.
Wadia Group - Founded in 1736, the Wadia Group is one of the oldest Indian conglomerates headquartered in Mumbai, India. Wadia Group has business interest covering a broad spectrum of industries: Aviation, Real Estate, Retail, Healthcare, Auto Components, Plantations, Engineering and Chemicals.