pr-inside.com
Print

Solvay completes the acquisition of Sunshield Chemicals in India



2012-12-27 19:02:50 -


Brussels, December 27(th), 2012 - Solvay announced today the closing of the
acquisition of a controlling interest in Sunshield Chemicals Limited, an Indian
surfactants producer, in accordance with the applicable regulatory requirements.
This acquisition enables Solvay's Novecare business to accelerate its
development in India for the home and personal care, agrochemicals, coatings and
industrial markets.

"We are now better geared to increase our market position in the Indian market
that is currently enjoying double-digit annual growth," explains Emmanuel
Butstraen, President of Novecare. "This additional bolt-on acquisition further
consolidates our leading positions in specialty surfactants in Asia and we are
well-equipped to support our customers' development in this part of the world."

Sunshield Chemicals Limited generated net sales of INR 943 million (EUR 13.5
million) in its most recent financial year ended March 31, 2012. The company
produces and exports surfactants, cross-linkers and antioxidants. Working from
its production site near Mumbai, Sunshield Chemicals Limited serves a large
number of markets for various applications in agrochemicals, coatings,
industrial applications, home and personal care products. Sunshield Chemicals
Limited is incorporated in Mumbai and listed on the Bombay Stock Exchange.

Novecare, one of Solvay's major Global Business Units generated net sales of
approximately €1.6 billion in 2011 and is a global leader in developing
surfactant, solvent and specialty polymer solutions. Serving the agrochemicals,
coatings, home and personal care, industrial, and oil and gas markets,
Novecare's technology platforms are built on leading positions in surfactants,
amines, phosphorus derivatives, natural & synthetic polymers and monomers, and
eco-friendly solvents.

SOLVAY is an international chemical Group committed to sustainable development
with a clear focus on innovation and operational excellence. It is realizing
over 90% of its sales in markets where it is among the top 3 global leaders.
Solvay offers a broad range of products that contribute to improving the quality
of life and the performance of its customers in markets such as consumer goods,
construction, automotive, energy, water and environment, and electronics. The
Group is headquartered in Brussels, employs about 31,000 people in 55 countries
and generated EUR 12.7 billion in net sales in 2011 (pro forma). Solvay SA
(SOLB.BE) is listed on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB.BB -
Reuters: SOLBt.BR).




For further details, please contact:

Lamia Narcisse Erik De Leye Maria Alcon-Hidalgo Patrick Verelst

Media Relations Media Relations Investor Relations Investor Relations

+33 1 53 56 59 62 +32 2 264 1530 +32 2 264 1984 +32 2 264 1540



You can find here the press release in PDF:
hugin.info/133981/R/1667350/541268.pdf



This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1667350]


Press Information:




Contact Person:


Phone:
email: e-mail




Disclaimer: © 2014 Thomson Reuters. The press releases or report contained herein is protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Thomson Reuters's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.