A huge merger in the ranks of plastics suppliers is set to take place as Solvay, which includes a broad range of high-end thermoplastics in its portfolio plus PVC and fluoropolymers, has launched a friendly cash offer for 100% of the share capital of Rhodia, which among other products markets engineering plastic compounds based on polyamide 6.6.
At the same time, Solvay announced that it is merging its various plastics-related business units into a single one, Solvay Specialty Polymers. The new unit will include established businesses Solvay Advanced Polymers, Solvay Padanaplast, Solvay Solexis and SolVin PVDC.
The business units that comprise the new Solvay Specialty Polymers business unit had combined sales of approximately €1.1 billion in 2010, approximately 15% of the Solvay Group's total sales. Headquartered in Bollate, Italy, its activities employee over 2500 across 26 locations throughout North and South America, Asia and Europe....