Seeking Alpha

Belgium's Solvay to acquire U.S.-based Chemlogics for $1.3B

  • Solvay (SVYSF.PK) has agreed to acquire privately held Chemlogics for $1.345B in a deal that will increase the Belgian chemicals and plastics maker's exposure to the U.S. oil and gas industry.
  • The market for chemicals in the sector is projected to increase 6% a year, boosted by fracking and deepwater drilling.
  • Chemlogics has 277 employees and generated $500M of sales in the last 12 months.
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