Solvay Quits Brazilian PVC Business
Solvay has agreed to sell its 50% stake in Brazilian PVC compounder Dacarto Benvic to its joint venture partners for an undisclosed sum.
The partner companies are Dupre Empreendimentos e Participações, Tondela Empreendimentos e Participações and WR3C Empreendimentos e Participações.
The transaction, which remains subject to regulatory approvals, is expected to close at the end of 2017. The sale follows Solvay’s exit from PVC activities in Europe, Asia and Latin America, including the European Benvic PVC compounding business that was sold in 2014 to US investment company OpenGate Capital.
Headquartered in Osasco, Dacarto Benvic has 450 employees across offices and facilities in Sao Paulo and Bahia.
Last December, Solvay completed the sale of its 70.59% stake in Argentine chlorvinyls business Solvay Indupa to Brazilian chemical group Unipar Carbocloro.