(CercleFinance.com) – Solvay announced on Friday that it had named its specialty chemicals subsidiary ‘Syensqo’ as part of the company’s planned spin-off.
The branch which will bring together, in parallel, the more traditional activities in essential chemicals will keep the historic name of ‘Solvay’.
This announcement comes as the Belgian group unveiled this morning the target capital structures and the financial policies of its two entities, which are called upon to become independent and to be listed on the stock exchange following the split.
Where Syensqo aspires to ‘above’ market growth, industry-leading margins and attractive returns, Solvay should strive to maximize its cash generation by strengthening its leadership in cost management.
The new names will be effective following the separation process, which should be completed by December, the group said in a statement.
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