MOSCOW (MRC) -- Belgium-based chemical industrial group Solvay said it has agreed to sell its German-based refrigerant business and pharma propellants to Daikin in Japan, as its Special Chemicals Global Business Unit is gearing its activities towards selective high value-added segments in fluorine specialties and high purity chemicals, said the producer in its press release.
Solvay's Global Business Unit or GBU Special Chemicals will divest all of its businesses on its site in Frankfurt. About 75 employees will be transferred to Daikin.
Completion of the transaction is subject to customary closing conditions, including regulatory clearance in Germany and Austria.
The sale of the Frankfurt businesses follows the exit of the Life-Science activities in 2013. Since then, Special Chemicals has been focusing on fluor specialities with a new facility in Germany serving applications in the agrochemical industry and expanded production capacity in China to support strong growth in the electronics industry.
As MRC informed previously, in October 2014, Swiss Solvay, a privately owned multinational chemicals company, unveiled its breakthrough innovation for surface cleaning formulations. While Mirapol Surf S polymers are a well-established range of polymers for hydrophilization of surfaces such as ceramic, glass, stainless steel, Solvay launches a unique technology enabling formulators to deliver the key benefits consumers now expect for even modern plastic surfaces. With Mirapol Surf N, Solvay makes a step change in household cleaning making it effortless and longer-lasting.
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. The company has diversified into two major sectors of activity: chemicals and plastics. Solvay supplies over 1500 products across 35 brands of high-performance polymers – fluoropolymers, fluoroelastomers, fluorinated fluids, semi-aromatic polyamides, sulfone polymers, aromatic ultra polymers, high-barrier polymers and cross-linked high-performance compounds.
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