Solvay Divests Formulated Resins Business to ALTANA AG

January 16 2017

Solvay has agreed to sell its Formulated Resins business to ALTANA AG’s ELANTAS PDG Inc. Under the agreement, Solvay’s global business unit Technology Solutions will divest the business line which generated sales of $20M (USD) in 2015. The divestment includes the Formulated Resins product portfolio, the manufacturing and R&D facility based in Olean, New York USA, and all associated technical, commercial and administrative staff. Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2017.

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