MOSCOW (MRC) -- Solvay, a privately owned multinational chemicals company, has completed the acquisition of the Ryton PPS (polyphenylene sulphide) business from US-based Chevron Phillips Chemical Company for USD220 million, enlarging its high-performance polymers offering and entering a solid growth market, as per the company's press release.
Solvay’s Global Business Unit (GBU) Specialty Polymers has bought two Ryton PPS resin manufacturing units in Borger, Texas, a pilot plant and R&D laboratories in Bartlesville, Oklahoma, as well as a compounding plant in Kallo-Beveren, Belgium with a total of about 200 employees joining the Group.
Chevron Philips Chemical’s compounding unit in La Porte, Texas, will provide temporary tolling services to Solvay, allowing for an orderly transition with the Ryton customer base.
Solvay Specialty Polymers, which has the industry’s broadest product portfolio, will access new business segments with innovative and demanding applications in transportation, automotive in particular, in electronics and in filter bags.
The acquisition is part of Solvay's strategic development to enhance its specialized solutions, deliver higher growth and greater returns while reducing cyclicality. The Ryton PPS businesses consolidated into Solvay's accounts as of January 1, 2015.
As MRC wrote before, in early December 2014, Solvay acquired Dhaymers, a Brazilian manufacturer of specialty esters, entering the skin care market and expanding its presence in industrial lubricants and mining industries in Latin America.
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. The group employs about 29,400 people in 56 countries and generated EUR9.9 billion in net sales in 2013.