Solvay Sells Barium, Strontium Business to Latour
Solvay has agreed to sell its technical-grade barium and strontium business in Germany, Spain and Mexico, as well as its sodium percarbonate business In Germany to French private equity group Latour Capital. Financial terms of the deal, which is set to complete in the first quarter of 2021, were not disclosed.
The barium and strontium business includes a joint venture with Chemical Products Corp. (CPC), which is also part of the transaction.
Solvay said the divestment is a key step toward streamlining its portfolio while reducing the group’s footprint by exiting its position in niche technical-grade chemicals markets. The sale also aligns with Solvay’s G.R.O.W. strategy, aimed at driving growth, cash and returns, which was announced in November last year.
“Under Solvay’s umbrella, both businesses have established leading competitive positions and proved to have very efficient production processes,” said Didier Gaudoux, partner at Latour Capital. “We are convinced by the teams’ strong operational know-how, by the industrial sites’ operational excellence and by the intrinsic product quality. We will support the management to deliver an ambitious and sustainable growth strategy, with the right investments in capacities and continuous improvements on ESG [environmental social governance] matters.”
Author: Elaine Burridge, Freelance Journalist
