The 11th of April Solvay announced its intention to buy Rhodia for €3 billion. This is the last announcement in a long list of acquisitions in the chemical industry in a year that is breaking records. The number of acquisitions is motivated by a market recovering from the economic crisis and that has cash again after 3 years of strong readjustment measures.
Solvay buys Rhodia
Specialty polymers of Solvay. Source: Solvay
The main products of Brussels based Solvay are sodium carbonate, hydrogen peroxide and specialty polymers. It employs 16,800 people in over 40 countries and in 2010 its consolidated sales were €7.1 billion. The sale of its pharma business for €4.5 billion to Abbott was finalised. This sale focused the rest of the business in the chemicals sector and it has probably facilitated Rhodia’s acquisition. Rhodia employs 14,000 people worldwide and in 2010 its sales amounted to €5.23 billion. Its internal structure is a bit complicated, with 5 clusters and 11 business...
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2011: Sales in the chemical industry
On May - 4 - 2011
