BRUSSELS, BELGIUM: Solvay SA has signed a definitive agreement to sell its polyolefin cross-linkable compounds business in Italy to family-owned group Finproject SpA.
Based in Roccabianca, Parma, the business' compounds are used in applications in the wire and cable, as well as pipe industries, generating sales of €82 million in 2016.
Finproject is a leading manufacturer of injection moulded foam, polyolefin-based compounds and PVC compounds. The transaction is expected to close in the second quarter of 2017.
"Following Solvay’s transformation, polyolefin cross-linkable compounds no longer fit within the portfolio of high-performance speciality polymers. Solvay has consistently grown the value of this business and its divestment contributes to the upgrade of Solvay's specialities portfolio," said Augusto Di Donfrancesco, president of Solvay’s speciality polymers global business unit.
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