Solvay has completed the spin-off of its specialty activities to Syensqo. Syensqo will focus on specialty materials, Solvay on commodities. The completion of the partial demerger became effective on December 9, 2023. Solvay and Syensqo started trading as separate entities on Euronext Brussels and Paris under their respective ticker symbols on December 11, 2023.
Solvay will comprise mono-technology businesses, including Soda Ash, Peroxides, Silica, Coatis and Special Chem, with net sales of around €5.6 billion in 2022. Syensqo will seek unexpected perspectives, enable breakthrough innovations, and explore the future of science. It will comprise the highly innovative business units Specialty Polymers, Composites, Novecare, Aroma, Technology Solutions, Oil & Gas and the growth platforms in Batteries, Green Hydrogen, Thermoplastic Composites, and Renewable Materials & Biotechnology. In 2022, these businesses generated net sales of approximately EUR 7.9 billion.
Dr. Ilham Kadri, former CEO of Solvay, becomes CEO of Syensqo. Philippe Kehren, former President and Head of Sustainability of Solvay’s Global Soda Ash & Derivatives Business Unit, becomes CEO of SOLVAY.
