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2008-03-09
Manufacturing News
Solvay Plastics Sector concentrates on specialty polymers No longer a strategic fit of the polypropylene compounds biz in Solvay Plastics Sector as sale to LyondellBasell Industries is complete.
Solvay announces today that it has finalized the sale of 100% of its subsidiary Solvay Engineered Polymers (SEP), a major supplier of polypropylene compounds, to LyondellBasell Industries. The transaction – originally announced in November 2007 – was completed following the relevant regulatory approval. SEP, which is essentially active in the North American Free Trade Agreement (NAFTA) region, has operations in Mansfield and Grand Prairie, Texas, as well as in Auburn Hills, Michigan. The company is also represented in Europe and in China through sales offices. The annual sales of SEP account for less than 2% of the turnover of the Solvay group. The Solvay Plastics Sector business is committed to the development and manufacturing of specialty polymers, in a drive to offer the world’s broadest range of high performance and ultra-high performance plastics materials. However, the strategic fit of SEP’s polypropylene compounding activities had become limited within Solvay’s Plastics Sector because, among other reasons, the Group completed the divestiture of its polypropylene resin production in 2001. LyondellBasell is one of the world’s largest polymers, petrochemicals and fuels companies. Headquartered in The Netherlands, LyondellBasell has combined annual pro forma revenues of nearly $43 billion and nearly 15,000 employees worldwide. LyondellBasell is privately owned by Access Industries. Got a cool job in plastics? - Post jobs to a dedicated engineering job site now! See all the Press Releases from Solvay sites. Read a recent article about -
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