(CercleFinance.com) – Solvay announces that its extraordinary general meeting (EGM) has approved the split of the group into two independent companies, the new Solvay and Syensqo, an operation now confirmed and which will be effective at midnight.
“It will allow us to refine our strategic direction, offer new growth opportunities, allocate capital more efficiently and lay even stronger foundations for the future,” comments its president Nicolas Boël.
As a reminder, the plan to separate the Belgian chemicals group was revealed 18 months ago. The company retaining the Solvay name will specialize in essential chemicals, while Syensqo will focus on specialty chemicals.