MOSCOW (MRC) -- Solvay has opened a new application development lab (ADL) in Shanghai, China, to expand its global footprint of its research and innovation facilities, said the company.
The new facility will develop solutions for applications industries including automotive, new energy, life solutions and pharmacy, smart devices and semiconductors for Solvay’s customers active in local and global end markets.
A team of 30 people including scientists, engineers and technicians will work at the site with coordinated resources use simulations, prototyping and performance evaluation services complemented by process equipment such as 3D printing, extrusion and noise vibration harshness (HNV) improvements.
We remind, Solvay announces the completion of the sale of its 50% stake in the RusVinyl joint venture to its joint venture partner Sibur. At the time of closing, Solvay received EUR433 million in cash proceeds in Belgium which will be reported in the first quarter as cash flow from investing activities (Consolidated statement of cash flows). A capital loss of EUR174 million will be recognized in the first quarter of 2023, mainly reflecting the crystallization of historic currency translation balances.