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Solvay acquires large-tow carbon fiber precursor manufacturer

November 10/2017

MOSCOW (MRC) -- Solvay completed the acquisition of European Carbon Fiber GmbH, a German producer of high-quality "precursor" for large-tow (50K) polyacrylonitrile (PAN) carbon fibers. With this acquisition, Solvay is building the foundations to lead the adoption of composites in automotive applications, to serve select industrial markets, and to support the potential adoption of large-tow fibers in aerospace, said the producer on its site.

"The strategic acquisition of ECF enables Solvay to develop a portfolio of large-tow carbon fibers to complement our existing range of pitch and PAN aerospace grade carbon fibers. This comprehensive portfolio will place Solvay as a key supplier to the aerospace, automotive and industrial markets going forward. Thanks to this acquisition Solvay will leverage its polymers and materials science competencies to drive breakthrough innovation in large-tow carbon fibers," said Carmelo Lo Faro, President of Solvays Composite Materials Global Business Unit (GBU).

Vertical integration into large-tow carbon fiber technology will position Solvay to ensure cost effective long-term security of supply to its customers.

As MRC informed before, in early July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March this year.

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 EUR10.9 billion in 2016, with 90% from activities where Solvay ranks among the worlds top 3 leaders.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PVC, SPVC, fibers/filaments, Ineos, INOVYN, Solvay, Solvin, Germany.
Category:General News
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