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Solvay completes the acquisition of Sunshield Chemicals in India


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Copyright © Thomson Reuters 2012. All rights reserved.
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]


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