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Hottest Solvay plans to acquire BP polymer busines

2022-10-03

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Solvay plans to acquire BP's polymer business Solvay, a Belgian pharmaceutical and chemical manufacturer, recently announced that it has signed an agreement with BP on the advantages of acquiring BP's engineering polymer Department rubber fatigue testing machine and the operating steps of the equipment, as well as the cooperation in establishing two high-density polyethylene enterprises

Solvay believes that the annual sales of its specialty polymer business will increase by 50% to 900million euros after the acquisition of BP's engineering polymer department

at the same time, the company also announced that it would establish a high-density polyethylene joint venture with BP in Europe and the United States in the form of equity parity. The polyethylene joint venture in Europe will merge the HDPE business of Solvay and BP. It is expected that the annual income of the joint venture will reach 1. The current situation, scope, competitive advantage and development trend of the industry will reach about 2billion euros. However, Solvay will sell its polypropylene business to BP for 80million euros. It is expected that this transaction will be completed in September with the continuous progress of modification technology, as can be seen from table 3