Solvay separation: tire silica production to stay with 'new Solvay'

Brussels – Solvay SA has unveiled the details of its planned separation programme which will see the Belgian chemicals major divided into two independent publicly traded companies by the end of the year.

The group will be divided to two entities, Solvay for essential solutions in housing, health, nutrition and mobility, and Syensqo which will focus on specialities, including high-performance polymers, materials and consumer products.

In a statement 16 June, the Brussels-based group said the production of silicas for the manufacture of tires will stay with the “new Solvay”, which delivered sales of €5.6 billion and earnings (EBITDA) of €1.3 billion in 2022.

The company will also manufacture elastomer chemicals, special chemicals, peroxides, coating additives and soda ash.

Syensqo will include, among other products, speciality polymers, composites, as well as four growth platforms in batteries, green hydrogen, thermoplastic composites, and renewable materials and biotechnology.

Solvay’s fluoroelastomer FKM materials will belong to Syensqo, which reported sales of €7.9 billion and earnings of €1.9 billion last year.