MOSCOW (MRC) -- Umicore and Solvay today announced that they have sold their respective 50% stakes in joint venture SolviCore to Japanese chemical company Toray, said Solvay in its press release.
Since its inception in 2006, SolviCore has built up a strong portfolio of clients for its membrane electrode assemblies used in fuel cells and proton exchange membrane (PEM) electrolysis. SolviCore will benefit from Toray's expertise in fuel cell materials and experience in mass production and will remain based in the Hanau-Wolfgang Industriepark near Frankfurt.
Both Solvay and Umicore will continue to be active in the fuel cell material market. Solvay will focus on its core competence in advanced materials that will enable key innovation in the fuel cell industry for mobility, stationary and other markets. Umicore will focus on its core competence in catalysis and continue to develop and commercialize electro-catalysts for the fuel cell industry.
Umicore is a global materials technology and recycling group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling.
As MRC informed earlier, Solvay and INEOS received final approval today from the European Commission to form their 50/50 Chlorvinyls Joint Venture, to be known as INOVYN. This follows Commission approval of International Chemical Investors Group’s (ICIG) acquisition of the remedy business that is being divested by INEOS as a condition of clearance.
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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