This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Solvay venderá sus actividades de hojas industriales a Renolit
Solvay will sell its industrial leaves to Renolit activities
31/08/2005
on August 31, 2005
Solvay has signed a principle agreement for the sale of all its activities of industrial sheets - covering production, marketing and distribution of leaves and plastic plates - for Renolit. Both parties will now start exclusive negotiations, with the intention to formalize the transaction before the end of the year, subject to the approval of the authorities on competition and in respect of social procedures.
The agreed price for the transaction is EUR 330 million, as announced in the first place.
The activities of industrial leaves of Solvay are presents mainly in Europe, with 9 factories in 8 countries, although also in United States, with a factory in Commerce (California) as well as in China and in Brazil through two joint ventures. The products are allocated to diverse applications, especially material doctor, swimming pools, furniture, construction, papelería, car, as well as diverse products of consumption. The industrial leaves of Solvay have generated a figure of businesses of some 470 million euros in 2004 with 2.200 employees.
This operation should enable industrial leaves to join a group that considers the plastic sheets as a main field of development, and for who activities of industrial leaves of Solvay is a source of diversification and consistent reinforcement.
