Solvay takes full ownership of joint venture stake in U.S. cellulose acetate flake plant from Eastman Chemical Company
Brussels, June 2, 2016 --- Solvay has completed the purchase of Eastman Chemical Company’s share in their former U.S. joint venture Primester. As the sole owner of the cellulose acetate flake plant, Solvay has secured the most economical long term supply for its own tow businesses while adapting capacity to demand.
Eastman will provide the long-term supply of basic utilities and raw materials to the Kingsport, Tennessee-based plant.
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).