Solvay has signed a definitive agreement to sell its polyolefin cross-linkable compounds business in Italy to family-owned group Finproject SpA.
“Following Solvay’s transformation, polyolefin cross-linkable compounds no longer fit within the portfolio of high-performance specialty polymers. Solvay has consistently grown the value of this business and its divestment contributes to the upgrade of Solvay’s specialties portfolio,” said Augusto Di Donfrancesco, President of Solvay’s Specialty Polymers Global Business Unit.
Based in Roccabianca, Parma, the business’ compounds are used in applications in the wire and cable, as well as pipe industries, generating sales of € 82 million in 2016.
Finproject is a leading manufacturer of injection molded foam, polyolefin-based compounds and PVC compounds.
The transaction is expected to close in the second quarter of 2017 and is subject to customary closing conditions.