Solvay
Solvay has agreed to sell its U.S. facility in Charleston, South Carolina, and the phosphorus derivatives-based products made at the plant to German specialty chemicals company Lanxess. Employees at the site will also be transferred.
“The divestment will strengthen Solvay’s focus and resources on our existing leadership positions in phosphine gas, phosphine derivatives and phosphorous specialties,” said Michael Radossich, President of Solvay’s Technology Solutions Global Business Unit. “With Lanxess, our Charleston employees and our customers will have a buyer with a strategic, geographic and technical fit to expand the business and its offerings.”
The products at the site are used primarily as intermediates in plastic additives, flame retardants and agricultural applications. The business represents sales of approximately €65 million.
Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2018.
