Solvay starts new chapter after partial demerger completed

Brussels – Solvay has completed the spin-off its ‘speciality operations' to Syensqo, marking a “significant strategic shift” for the group aiming to be a “frontrunner in essential chemicals.”

The partial demerger was completed 9 Dec, with Solvay and Syensqo starting trading as separate entities on Euronext Brussels and Paris two days later.

Philippe Kehren now serves as the CEO of Solvay, which includes tire-silica production as well as essential products for housing, health, nutrition and mobility applications.

In addition to silicas, the group’s core products include elastomer chemicals, special chemicals, peroxides, coating additives and soda ash, added Solvay 11 Dec announcement.

With over 9,000 employees spanning 40 countries, Solvay now aims to focus on “market leadership, decarbonisation, and social responsibility,” the Belgian group stated.

“Prevailing megatrends present compelling opportunities for enhancing value,” said Solvay chairman Pierre Gurdjian, reviewing prospects for the core businesses.

Furthermore, the streamlined group aims to ‘introduce process innovations and sustainable products, while minimising environmental footprint’, according to Kehren.

In financial terms, Solvay aims to achieve a ‘mid-single-digit’ growth in earnings (EBITDA) by 2028.

In 2022, Solvay delivered sales of €5.6 billion and earnings of €1.3 billion.