Dec. 2, 2015, 9:03 AM
- The European Commission has approved Belgian chemical group Solvay's (OTCPK:SVYZY) planned $5.5B purchase of Cytec Industries (NYSE:CYT).
- The decision is conditional on Solvay divesting activities in phosphor-based solvent extraction, used in the mining sector to separate cobalt from nickel.
- Previously: Solvay to buy Cytec (Jul. 29 2015)
Jul. 29, 2015, 3:01 AM
- Belgian chemical group Solvay (OTCPK:SVYZY) has agreed to buy Cytec Industries (NYSE:CYT) for $6.4B, including debt, to become the world's second-largest maker of aerospace composite materials.
- The Belgian group will finance the transaction with a €1.5B ($1.66B) rights issue, €1B of hybrid instruments and a senior debt issue.
Sep. 4, 2014, 6:50 AM
- Solvay (OTCPK:SVYZY) will buy Ryton PPS, a specialty polymers business, from Chevron Phillips (CVX, PSX) for $220M.
- The acquisition includes Ryton PPS's resin manufacturing units in Texas, pilot plant and research and development laboratories in Oklahoma and compounding plant in Belgium.
- The transaction is expected to be completed in Q4 of 2014.
Oct. 7, 2013, 7:14 AM
- 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.
Solvay is divided into four business segments: Chemicals, Plastics, Processing and Pharmaceuticals. Through its Chemicals Sector, Co. is a producer of soda ash, hydrogen peroxide, detergent and barium-strontium, and one of the manufacturers of chlor chemicals, salt, and fluorinated products.... More
Sector: Basic Materials
Industry: Chemicals - Major Diversified
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