Solvay to sell its stake in Brazilian PVC compounder Dacarto Benvic to joint venture partner
Brussels, July 5, 2017 --- Solvay has agreed to sell its 50 percent stake in Dacarto Benvic to its joint venture partner which will become the sole owner of the Brazilian PVC compound processor.
The sale follows Solvay’s withdrawal from PVC activities in Europe, Asia and Latin America, including the Benvic PVC compound business which was sold in 2014.
The joint venture partner companies are Dupre Empreendimentos e Participações ltda., Tondela Empreendimentos e Participações ltda., and WR3C Empreendimentos e Participações ltda.
Dacarto Benvic is headquartered in Osasco with 450 employees in total at offices and facilities in São Paulo and in Bahia state.
The closing of this transaction is expected end 2017 and is subject to customary approvals, including anti-trust.
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.