Information

Solvay PC-603 - History

Solvay PC-603 - History


We are searching data for your request:

Forums and discussions:
Manuals and reference books:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

Solvay
(PC-603: dp. 280; 1. 173'8; b. 23'0; dr. 10'10; s.
20.2 k. (tl.); cpl. 65; a. 1 3~, 1 40mm.; cl. PC-461)

PC-60S was laid down on 9 May 1942 at Morris Heights, N.Y., by the Consolidated Shipbuilding Corp.; launched on 30 June 1942, sponsored by Mrs. J. H. Keatley; and commissioned on 1 October 1942.

During October and November of 1942, PC-60S conducted shakedown in the Atlantic along the southeastern coast of the United States and escorted coastal convoys between the Virginia Capes and Key West, Fla. She visited Guantanamo Bay, Cuba, on 29 November and Kingston, Jamaica, on the following day before heading for Panama. The submarine chaser transited the canal on 5 December, stopped at San Diego from the 13th to the 18th, and reported for duty to the Commander, Northwestern Sea Frontier, at Seattle, Wash., on the 21st.

After almost four months at Seattle, she headed north on 11 April 1943. PC-60S made Kodiak, Alaska, on the 14th; and, for the next seven months, escorted convoys and patrolled the cold waters surrounding the Aleutian Islands. Her most frequent ports of call were at Attu, Adak, and Amchitka, though she also visited Dutch Harbor, Shemya, and Kiska. On 29 November, PC-60S departed Adak and headed south. She entered Pearl Harbor on 8 December and spent the remainder of the war and the succeeding nine months assigned to the Hawaiian Sea Frontier. She was stationed at Pearl Harbor through 26 May 1944; then moved to Midway Island until December. She returned to Pearl Harbor in early January 1945 and operated between the major islands of the Hawaiian group until 10 May 1946, when she headed for the west coast.

Following a month at San Pedro, Calif., she headed south along the coast on 15 June and transited the Panama Canal at the end of the month. PC-608 continued her voyage and made Norfolk, Va., on 8 July. On 29 August, she departed Norfolk in the tow of Kiowa (ATF-72) and reached Philadelphia the following evening to begin duty in the 4th Naval District. On 8 January 1947, PC-60S was decommissioned at Philadelphia and was placed in service with the Naval Reserve Training Program. Operating along the length of the eastern seaboard and occasionally in the Caribbean Sea, the submarine chaser continued this assignment until October 1949. On the 15th, she was assigned to the Atlantic Reserve Fleet, and on the 26th, she reported to the Norfolk Group. On i February 1956, PC-60S was named Solvay. Her name was struck from the Navy list on 1 July 1960, and the disposal of her hulk was approved on 15 March 1961.


The Solvay Process Company was a joint venture between Belgian chemists Ernest and Alfred Solvay, who owned the patent rights to the Solvay process, and Americans William B. Cogswell and Rowland Hazard II. Cogswell, a former resident of Syracuse, was an engineer who was familiar with the natural resources of Central New York that would be available for use in process. Knowing that American industry was importing soda ash from Europe, Cogswell envisioned utilizing the process in America.

After several refusals, Cogswell eventually secured American rights to the Solvay process. He obtained capital to build a production facility from Rowland Hazard II, scion of the Hazard family. Rowland Hazard was the major American investor in the company and its first president. His son, Frederick Rowland Hazard, was an initial officer and subsequently became president. William B. Cogswell served as vice-president. Frederick's brother Rowland G. Hazard II soon followed Cogswell as vice-president. The Solvay brothers themselves had a one-third interest in the company.

Wells in Tully provided salt brine, pumped by pipeline to Solvay. An elevated conveyor, with buckets suspended from a cable loop, passed in a tunnel through a hill [1] [2] [3] to deliver stone from company quarries at Split Rock in Onondaga, about four miles to the south.

The Erie Canal passed through the Solvay Process plant until 1917, as did Onondaga Lake, connected to the New York State canal system. The main line of the New York Central Railroad also passed through company property.

The town of Solvay grew around the Solvay Process plant. The Church and Dwight Company, producer of Arm & Hammer baking soda, which used material from the Solvay process, built a production facility nearby.

The Hazard family invested in an affiliated business, the Semet-Solvay Company, formed in 1895. Louis Semet, a relative of the Solvays, had developed with the brothers a coke oven designed to recover valuable materials formerly wasted in the coking process. In 1892 the Solvay Process Company built the first of these ovens in America, forming the Semet-Solvay Company in 1895 to build and operate these ovens. Coke plants were located in Ashland, Kentucky, Buffalo, New York, Detroit, Michigan, and Ironton, Ohio. Semet-Solvay also operated its own coal mines in West Virginia, providing much of its coal supply.

Absorption by Allied Chemical Edit

Both the Solvay Process Company and the Semet-Solvay Company were absorbed by the Allied Chemical and Dye Corporation in 1920, a merger promoted by chemist William Henry Nichols and financier Eugene Meyer. Nichols owned several chemical companies and was a founding member of the American Chemical Society in 1876, serving twice as its president. Meyer was publisher of The Washington Post. Nichols, having observed American dependence on German chemical production, hence vulnerability during World War I, envisioned consolidation and recapitalization of the American chemical industry. Formed in 1920 and based in New York City, the Allied Chemical and Dye Corporation combined five chemical companies, including Solvay Process and Semet-Solvay. When proposed, the promoters assured the companies that each would retain autonomy of operations.

Meyer persuaded Orlando Weber to take charge of Allied Chemical. Under Weber's tenure between 1920 and 1935, Allied Chemical was successful financially, but his control reversed the previously agreed-upon policy about company autonomy. The Hazard family attempted to gain a controlling interest by quietly acquiring large amounts of stock in Allied Chemical. They failed to return operations of the plant to local control or rehire personnel terminated by the new corporation, contrary to their agreement.

1943 waste bed flood Edit

Large marshlands around the lake provided disposal for sludge from the process, leaving extensive "waste beds". These have contributed to the pollution of the Onondaga Lake.

On Thanksgiving Day in 1943, 40,000 tons of industrial waste consisting of calcium carbonate and magnesia flooded the hamlet of Lakeland, New York. The industrial waste originated from the Solvay Process plant, having broken through a retaining wall at waste bed number 7. [4]

Two square miles were covered by the waste, which reached as much as eight feet deep in some places. The Post-Standard reported in 1993 that "every tree, shrub or blade of grass within a square mile was dead". There were no reported fatalities, but there were a few injured, such as Fred Hulbert, assistant chief of the auxiliary military police at Solvay Process, who was treated for acid burns and two frozen toes after rescuing numerous stranded Lakeland residents using a rowboat. Fifty-five residents were left homeless as a result of the flood. [4] [5]

The waste was initially intended to be removed by dumping truckloads of cinders into the waste until it solidified enough to be shoveled out, but that plan was scrapped in favor of dissolving the waste using water and eventually pumping it into Ninemile Creek, which flows into Onondaga Lake. The cleanup process took two months to complete. The houses affected by the flood, now worthless, were purchased by Solvay Process and demolished. [4] [5]

An investigation launched by Solvay Process into the incident reported that the dykes at the plant were built of old Solvay waste, not dirt, and that they were built too rapidly. The investigation also stated that the demand for production during World War II was too great and help was too limited. After the incident, Solvay Process moved their waste beds away from the shoreline of Onondaga Lake. [5]

Decline and closure Edit

Solvay Chemical continued soda ash production through the 20th century. By 1980, the demand for soda ash plummeted. By 1985, the company had lost $55 million over the previous three years, forcing Allied Chemical (AlliedSignal at the time) to close and demolish the plant, dismissing 1,400 employees. Several significant buildings, such as the company's local headquarters, were not demolished and were sold instead. [6]


Company-Histories.com

Public Company
Incorporated: 1967 as Solvay & Cie S.A.
Employees: 30,302
Sales: EUR 7.92 billion ($8.30 billion) (2002)
Stock Exchanges: Euronext Brussels
Ticker Symbol: SOL
NAIC: 325181 Alkalies and Chlorine Manufacturing 325188 All Other Basic Inorganic Chemical Manufacturing 325199 All Other Basic Organic Chemical Manufacturing 325211 Plastics Material and Resin Manufacturing 325412 Pharmaceutical Preparation Manufacturing


Company Perspectives:
Our Mission. Building on our scientific, technical and commercial expertise, we responsibly provide innovative products and services related to chemistry and human health to create ever-increasing value to our customers, shareholders and employees. Our Vision. Solvay is an independent and ethical global industrial group with a balanced portfolio of sustainable profitable and growing businesses under careful environmental management: Amongst the world leaders in selected markets and products, either alone or with sound complementary business partners. Valued by its customers as a highly competent, reliable and competitive solution provider. With a clear, motivating organization, developing and empowering people and teams through rewarding and challenging jobs. Acting as a good corporate citizen, caring for the health, safety and environment of its employees and of the community at large.


Key Dates:
1861: Ernest Solvay files a patent for a method of manufacturing artificial soda ash.
1863: Solvay and his brother Alfred form Solvay & Cie to pursue this new method.
1865: After the firm is driven to the brink of bankruptcy, the brothers succeed in producing large amounts of soda ash at their first factory, in Couillet, Belgium.
1873: Several British plants are constructed, the first foreign operations.
1881: Factories open in the United States and Russia.
1895: The company is able to work electrolysis into its industrial scheme, leading to the diversification into the production of chlorine and caustic soda.
1900: Ernest Solvay continues to hold all patents related to the Solvay method of soda ash production, which has now reached 900,000 tons per year.
1922: Founder Ernest Solvay dies.
1949: Solvay & Cie diversifies into plastics when it begins producing polyvinyl chloride (PVC) at its plant in Jemeppe, Belgium.
1950s:Company moves into the life sciences field.
1959: Solvay expands further into plastics with the start of high-density polyethylene (HDPE) production.
1960s:Solvay expands into plastic processing.
1967: Company is incorporated as Solvay & Cie S.A.
1971: Solvay's shares are placed for sale on the public market for the first time company adopts a more modern management structure, with top management positions opened up to executives from outside the founding family.
1976: Production of polypropylene begins.
1979: Company begins to make acquisitions of life sciences firms.
1980: Life sciences activities are placed within a separate Health sector.
1984: Interests in the United States are reorganized under a new holding company, Solvay America, Inc.
1992: Solvay buys Tenneco Inc.'s soda ash operations in Green River, Wyoming, gaining significant capacity in low-cost, trona-based soda ash.
1998: Aloïs Michielsen becomes the first person from outside the founding Solvay family to serve as chief executive.
1999: The European PVC business of BASF is acquired.
2001: Solvay swaps its small polypropylene business for BP's specialty polymers operations the two companies also form HDPE joint ventures in North America and Europe.
2002: In its largest acquisition ever, Solvay buys Ausimont S.p.A., a EUR 600 million fluorinated chemicals and polymers business.

The wide ranging activities of the Belgium chemical firm Solvay S.A. center on four areas: commodity and specialty chemicals, plastics, processed plastic products, and pharmaceuticals. Chemicals account for about one-third of the company's revenues. Solvay is among the world leaders in several commodity chemicals, including soda ash, hydrogen peroxide, persalts, barium and strontium carbonate, and caustic soda, as well as such specialty chemicals as fluorochemicals. In plastics, which account for about one-quarter of overall sales, Solvay produces fluorinated polymers and elastomers, as well as vinyls. About 19 percent of revenues come from plastic processing, including automobile fuel and air intake systems, various films, and swimming pool linings. Solvay's pharmaceutical operations, generating about a quarter of revenues, are relatively small on a global scale, ranking about 37th among the world players in the early 2000s. Drug development efforts focus on four main therapeutic fields: gastroenterology, hormone treatments, cardiology, and mental health. Solvay operates in 50 countries more than 95 percent of its revenues are generated outside of Belgium, with 45 percent originating outside of the European Union.

Although Solvay was not incorporated as a public company until 1967, its roots go back to the 1860s and the discovery by its founder, Ernest Solvay, of a new industrial process for producing soda ash, an essential element in glassmaking. Under his guidance and that of four generations of Solvays, the firm became one of the largest in Belgium, combining chemical innovation with social projects and cultural programs. Although they are no longer involved in the direct management, members of the Solvay family continue to have a substantial ownership interest in the company through a 26 percent stake held by Solvac S.A., a publicly traded Belgian holding company controlled by the family.

Foundations in Soda Ash: Late 1800s

The foundations of Solvay were laid by Ernest Solvay, who was born in 1838, the son of a quarry master from Rebecq-Rognon, Belgium. In the early 1860s Solvay devised a process for the manufacture of artificial soda ash. At the time, the method in use was that discovered by the French chemist Nicolas Leblanc in 1789. Leblanc's method, while valuable as an industrial process, had serious drawbacks, most prominently its production of large amounts of alkali wastes. Although this fact called for alternative methods, none were available. In 1861 Solvay filed a patent for a method that involved the reaction of ammonium bicarbonate and salt, the product being heated to yield sodium carbonate, or soda ash. Despite his enthusiasm, his "discovery" met with indifferent or negative response on virtually all sides.

On the advice of an attorney, Solvay consulted patent records, only to find that the process was not original after all. It had in fact been proposed half a century earlier, in 1811, by the French physicist Augustin Fresnel. Large-scale implementation of the process, however, was made difficult by the volatility of ammonia. Over the course of those 50 years, many chemists had attempted to devise a way to make the procedure industrially viable. All had met with failure. The propositions of the young Solvay, therefore, were seen as little more than the repetition of old mistakes. While a few encouraged him, most chemists looked with disfavor on his efforts.

The ammonia-soda process may never have achieved its influence had Solvay been inclined to admit defeat. His character, however, had been marked since youth by intense curiosity about scientific questions and by dedicated application to whatever problem was at hand. Although illness had cut short his formal studies, he had maintained this deep-set curiosity and educated himself. The small encouragement he received, added to this dedication, was enough for him to continue his research. Not only would his process eliminate the problem of waste, but he believed that it could drastically lower the price of soda ash, reducing it by three-quarters or more.

In order to continue the work, he and his brother Alfred formed Solvay & Cie in 1863, and embarked on the difficult route to finding a workable procedure. The perfection of the process on a large scale was far more difficult than its invention had been the setbacks faced by the young firm were enough to drive it to the brink of bankruptcy by late 1865. With their family's help and support, the brothers decided to try one last time. This time, they were successful, producing large amounts of soda ash. The key to their system and Solvay's greatest single achievement was the Solvay carbonating tower, which permitted the important but problematic reaction of carbon dioxide and ammoniacal brine to take place effectively and safely. By 1869, with the implementation of this invention, the Solvays were confident that they would become a strong presence in the market for artificial soda ash.

Having worked out the procedure, Solvay & Cie faced another difficult problem, that is, persuading others that the method was viable. The very novelty of the technique rendered it unfavorable in many eyes, and for a long while Solvay faced intense competition from adherents to the Leblanc process. Even this competition, however, had its benefits one of its side effects was a reduction in the price of sulfuric acid, employed to treat phosphates for use in agriculture. The end result of this was increased productivity from crops treated with these products, in turn lowering the price of such staples as bread.

Agricultural benefits aside, Ernest Solvay weathered many difficult years attempting to establish his method in the industry. Eventually, however, as it became clear that the Solvay method produced soda ash at a lower cost than the Leblanc process, it became more and more widely accepted. By the turn of the century, Solvay-method production had risen from 300 tons per year in the 1860s to 900,000 tons per year, at a price around three times lower than it had been before Solvay entered the field.

The Solvay method permitted the clean production of inexpensive soda ash, with Ernest Solvay holding patents on all key phases of the process. The market share that this was to give to the company, however, was not enough for him. Ernest knew that no firm could survive by resting on one past achievement, therefore he encouraged diversification into other related areas. Most notable among these, in this phase of the company's history, was the production of chlorine and caustic soda by electrolysis. As early as 1886, Solvay wanted to proceed in the direction of chlorine manufacture. It was not until 1895, however, that the company was able to work electrolysis into its industrial scheme. The production of chlorine eventually led to one of the company's largest modern branches, chlorinated products, including plastics. Caustic soda also combined with soda ash to provide a profitable new product area.

With the success of their first factory, located in Couillet, Belgium, the Solvay brothers began to expand their firm. The initial consideration of international growth, proposed for England, came in 1872. In the following year several British plants were constructed, in addition to one in Dombasle, France. The last two decades of the century saw rapid growth of the firm. In 1881 both the United States and Russia became sites for Solvay works: in the United States the cities of Syracuse and Detroit eventually housed Solvay factories, while three Russian locales were selected. The company continued its international growth in the following years by building in Austria, Hungary, Germany, and, in the early years of the 20th century, Spain and Italy. In all, by the company's 50th anniversary in 1913, there were at least 34 Solvay plants, including an electrolytic plant in Jemeppe-sur-Sambre in Belgium.

As the 19th century progressed, Solvay & Cie was directed toward greater productivity and importance in its market. Despite such impressive growth, the management was not neglecting its workers, a fact about the company's character that should not be overlooked. In addition to his interest in natural science, Ernest Solvay had a strong interest in socioeconomic matters. A proponent of universal suffrage, his social interests led him to the senate in the 1890s he had an idealistic view of a future when "justice for all" would be a reality. This vision was realized in concrete terms by the institution of many innovative workers' benefits. By the end of the 19th century, workers for Solvay & Cie were able to take advantage of sick pay, compensation for injury, and the eight-hour work day, which was a Solvay innovation at their Russian plants. His social interests also led him to various contributions to the nation during World War I, after which he was named Minister of State.

While chemical projects and social interests were part of daily business, they were not the only things surrounding Ernest Solvay's company. Since his youth, the founder had a strong interest in intellectual questions, which later led to the creation of the Solvay institutes of physiology and sociology. His self-teaching also led him to speculations on such abstract physical principles as mass and energy. His interest in matters such as the nature of the universe led to his initiation of the Solvay conference on physics, which drew the greatest minds of the time together: Albert Einstein, Ernest Rutherford, and Marie Curie were but a few of the names listed at the first meeting in 1911.

The company's first major setback came at the end of World War I, when its Russian plants were lost in the aftermath of the revolution. Shortly thereafter, in 1922, Ernest Solvay died. His prominence was marked by a letter of condolence sent by King Albert of Belgium to their mutual friend Charles Lefébure, with whom they shared an interest for mountain climbing. The company was able to overcome these losses, however, by modernizing many of its plants in the next years and making moves into certain other areas, such as the exploitation of potassium mining. In the 1930s and 1940s, increasing efforts were directed towards electrolysis, with new plants established in Italy, Greece, and other countries.

World War II again changed the complexion of the company. Many of its important factories were damaged during the conflict in addition, several of its plants were lost to the Soviet-dominated Eastern European countries. While rebuilding its facilities, Solvay did not neglect to make new developments, holding to its policy of careful diversification. The company first produced polyvinyl chloride in 1949, at its plant in Jemeppe, Belgium. This move into plastics was to be one of the company's most important decisions, opening up a new and very profitable field that did not diverge significantly from the company's basic product lines.

Postwar Era: New Growth Fields and More Modern Management Structure

In the 1950s and 1960s Solvay continued to grow, building and maintaining its position as a prominent manufacturer of bulk chemicals. The company also expanded the range of plastics it produced by beginning production of high-density polyethylene in 1959. Solvay's first foray into the life sciences field also occurred during the 1950s. The next major changes in the company came in the late 1960s under the direction of Baron Rene Boël. One of the most important changes made by Boël was to place Solvay's shares on the public market, in 1971, for the first time. In addition, he made major structural changes in management. Previously, Solvay & Cie had been organized by a French and Belgian managerial structure known as a "commandité," in which authority was held by a group of five executives. All were required to be members of the Solvay family, into which Boël had married some time earlier. Boël abandoned this form of administration for a more modern corporate structure, paving the way for more clearly defined management responsibility and opening up top management to executives from outside the family. The initial addition of two nonfamily members was enlarged upon in subsequent years. Many European firms have been forced into similar changes by economic necessity, but Solvay managers said they chose their own time, when the changes made were able to provide significant benefits to the company.

During the same time, the company began to make record expenditures in research and development. It also began looking into new fields for growth. An example of this was its move from being a straightforward plastics manufacturer to a plastic processor as well, a development that began in the 1960s. Solvay was eventually involved in a wide range of plastic processing endeavors, including foils, automobile parts, pipes, plastic bottles, and baby seats--thereby successfully entering the consumer market as well as the industrial market. Meantime, on the plastics manufacturing side, Solvay began producing polypropylene in 1976.

The changes in Solvay's management kept the company financially healthy through the late 1970s when, under the leadership of Jacques Solvay, a great-grandson of the founder, it was acknowledged as the European leader in the manufacture of polyvinyl chloride. Production on its oldest line, soda ash and caustic soda, was reduced to approximately 20 percent of the firm's total income. Yet this reliable 20 percent was to provide the next great challenge for Solvay. In 1976 U.S. companies began manufacturing soda ash from a natural source, a rock mined in Wyoming, called trona. Suddenly a process was available that was both less expensive and cleaner than the reliable Solvay process. The situation was not helped by increasing environmental restrictions on chlorine and calcium carbonate. As a result, Solvay-method plants began to close.

In 1978 the European management felt the repercussions of this situation. In the wake of a Solvay price hike on soda ash, designed to offset losses at their oldest plants, Belgian glassmakers signed a letter of intent with the FMC Corporation in the United States. Faced with the loss of their contracts and of some 1,200 jobs, Solvay asked the Belgian government to intercede, while initiating measures to reduce their prices. Although the glassmakers seemed content to return their business to Solvay, FMC was less satisfied. The dispute led to changes in Solvay policy to suit antitrust laws, and helped support the suspicion that, sometime in the future, artificial means of production would be discontinued for this product Solvay nevertheless remained a profitable presence in the business.

Despite such problems in the oldest branch of the firm, Solvay did not stop looking for new developments. The year 1984 saw the reorganization of its American interests under a new holding company, Solvay America, Inc., in an attempt to increase its profile in the United States. Approximately the same time, the company extended its financial outlays, marking $650 million to be dedicated to capital improvements in the period 1985-87. Another profitable move was the company's acquisition of life sciences firms, which began in 1979. The increasing importance of these life sciences endeavors was shown when the company placed them within a separate Health sector in 1980. Solvay by 1990 was producing a number of drugs and vaccines for human and animal healthcare, in plants located in Europe and in the United States.

Up to 1990 Solvay's more recent history was somewhat embattled, especially in terms of its old mainline products soda ash and caustic soda. Its newer plastics products also experienced a difficult time on the market because of a general decrease in plastics sales throughout Europe. The firm managed to maintain its financial position, however, showing higher sales in 1986 than ever before. In the 1980s Solvay management became increasingly aware of the company's vulnerability because of a reliance on bulk chemicals alone, and its diversification, more varied than ever before, showed a calculated response to this pressure.

1990s: Shedding Stodgy Reputation in a Deal-Making Decade

In 1990 Solvay's profits experienced a drop of 5 percent from the year before, and in 1993 it reported a loss--of $193 million--for the first time in 12 years and for only the second time in its long history. Moreover, throughout the 1990s observers questioned its ability to compete in the pharmaceuticals market given that its major competitors--such as Akzo and Rhône-Poulenc--were themselves pure pharmaceuticals producers. The collapse of the Berlin Wall and the Soviet Union's subsequent disintegration presented Solvay with an opportunity to recover the plants it had lost during World War II and the postwar years. In 1991 it regained ownership of its former East German soda ash and hydrogen peroxide plant, seized by the Nazis in 1939, and announced plans to invest DM 200 million in its renovation.

To improve its wavering profits, Solvay throughout the 1990s sought partnerships with global chemical and chemical end-user companies. In 1990, for example, it joined with the U.S. Dexter Corporation to form a specialty plastics joint venture and partnered with Wienerberger Canalisent L'Europe to acquire pipe manufacturers in Hungary, East Germany, and Greece. The following year it struck a deal with the U.S. pharmaceuticals giant Upjohn Company to comarket some of each other's products and entered into a joint venture with a Japanese company to produce salt in Thailand. Between 1994 and 1996, it also merged its coolant business with Germany's Hoechst, established automotive products and biosciences joint ventures in mainland China and Argentina, and formed an automotive products partnership with the O'Sullivan Corporation of the United States.

It also closed unprofitable operations and sold noncore businesses. Between 1991 and 1996, for example, it sold some of its animal health products line, its feed additive operations, its bioinsecticide business, and--in 1996--its remaining animal health units, to American Home Products. Other significant divestitures included the sale of its catalysts and sorbents businesses, its wood production and special cement operations, its industrial enzymes business, and, in 1997, its Brazilian plastics subsidiary.

Under CEO Baron Daniel Janssen, who was also related to the founding family by marriage, Solvay attempted to dispel its reputation as a stodgy industrial dinosaur by making repeated acquisitions. In 1990-91, for example, it acquired an American blow-molded plastics operation, gained a share in a Spanish polyvinylchloride producer, and broke up its hydrogen peroxide joint venture with Laporte of the United Kingdom in order to gain complete control of that important business. In June 1992 it paid Tenneco Inc. of the United States $500 million for its soda ash operations in Green River, Wyoming. This acquisition marked a historic shift as Solvay gained significant capacity in low-cost, trona-based soda ash it also shored up the company's position as the global leader in soda ash production. In other deals, Solvay acquired a medical tubing manufacturer in 1994, bought Hoechst's fluorocarbons business and a Bulgarian soda ash plant in 1996, and acquired a Namibian fluorspar mine and a share of a Finnish hydrogen peroxide business in 1997. The company in 1997 also took full control of the U.S. plastics joint venture it had formed with Dexter Corp. Called D&S Plastics International, the Auburn Hills, Michigan-based firm had developed into a leading supplier to the North American automobile industry of polyolefin resins, principally used in the production of car bumpers.

By 1995, Solvay's sales had edged past $9.3 billion--more than a quarter of which was contributed by its U.S. subsidiaries--and in 1996 Janssen announced that Solvay would now concentrate its efforts on five principal sectors: alkalis, peroxygens, plastics, health (including pharmaceuticals), and processing (which included automotive products, industrial sheet and film, and pipes and fittings).

Early 2000s: Shifting Focus to Specialty Chemicals and Pharmaceuticals Under First Nonfamily CEO

In June 1998 Janssen succeeded Boël as chairman of Solvay's board of directors, while Aloïs Michielsen took over Janssen's position of chairman of the executive committee, a position similar to that of chief executive. In a historic development, Michielsen, a 28-year company veteran, became the first person from outside the founding Solvay family to head up the company. The new leader continued--and soon accelerated--the deal-making trend initiated by his predecessor.

During 1999 Solvay became the world's fourth largest producer of polyvinyl chloride (PVC) by acquiring the European PVC business of BASF, which was merged with Solvay's existing PVC business to create Solvin S.A., a 75-25 joint venture between Solvay and BASF headquartered in Brussels. Solvay also acquired Ellay, a leading U.S. producer of PVC films for medical applications, and entered into a joint venture with Phillips Petroleum Company to build two high-density polyethylene (HDPE) plants in North America. In 2000 Solvay and Plastic Omnium of France combined their fuel systems operations into a 50-50, Paris-based joint venture called Inergy Automotive Systems S.A., creating the world's largest manufacturer of plastic fuel tanks, with 3,300 employees and 30 facilities in 15 countries.

An important and complex deal with BP was concluded in October 2001. Solvay swapped its small, money-losing polypropylene business for BP's specialty polymers operations at the same time, the two companies formed HDPE joint ventures in both North America and Europe. Combined, the joint ventures ranked third in the world in HDPE and had overall revenues of EUR 2 billion ($1.86 billion). The resulting Houston-based entity, BP Solvay Polyethylene North America, also took over Solvay's interest in the two HDPE plants being built with Chevron Phillips Chemical Company (Phillips Petroleum having since combined its chemicals business into a 50-50 joint venture with Chevron Corporation). As part of the deal with BP, Solvay had the right to exit from the joint ventures in late 2004, and industry observers widely expected the company to do just that.

Early in 2002 Solvay partnered with Kali und Salz to create a European salt joint venture called ESCO in which Solvay took a 38 percent stake. The big news that year, however, was Solvay's completion of its largest acquisition ever. In May 2002 Solvay acquired Ausimont S.p.A. from Montedison S.p.A. and Longside International for EUR 1.3 billion ($1.1 billion), gaining a EUR 600 million fluorinated chemicals and polymers business. Part of the funds for the deal were gained through the issuance of EUR 800 million in preferred stock to a financial investor, and Solvay was likely to use the proceeds from the sale of the BP Solvay Polyethylene joint ventures to reimburse the buyer of this stock. At the beginning of 2003, Solvay merged its existing fluoropolymers business with Ausimont to form Solvay Solexis, which was based in Bollate, Italy.

The end result of these transactions was that Solvay was much more highly focused on specialty chemicals and pharmaceuticals at the expense of the commodity chemicals business on which the firm was founded. Solvay was aiming to increase the share of group earnings before interest and tax that derived from its specialty chemical and pharmaceutical operations to 70 percent by 2006, up from 58 percent in 2001. One result of this shift in focus was that the company was better insulated from the cyclical effects of the commodity chemical sector. Overall, the various deals strengthened Solvay in another way. More of the company's businesses--80 to 90 percent of the them in 2002--had leadership positions in their specific sector, compared to less than 50 percent five years earlier.

The changes in the product portfolio also had a very positive on Solvay's bottom line. For 2002, although revenues were down 9 percent, earnings jumped 23 percent, reflecting the acquisition of more highly profitable businesses and the divestiture of less profitable ones. In fact, the company's return on equity hit 13.1 percent, a level not reached in more than ten years, though below Solvay's target rate of 15 percent.

Also boding well for the future was the rapid growth of Solvay's pharmaceutical business, where annual revenue growth was averaging 14 percent in the early 2000s. The company's focus on four main therapeutic areas--gastroenterology, hormone treatments, cardiology, and mental health--was paying off handsomely, with revenues approaching the EUR 2 billion mark. Solvay remained a small player on the global stage, ranking only in the top 40 among the world's pharmaceutical firms, and many questioned the company's continued commitment to this sector, particularly given that the trend was for major chemical groups to withdraw from drugs, as had, for example, BASF and DuPont. But Solvay had some promising products in its drug pipeline, most notably cilansetron, a treatment for irritable bowel syndrome clinical trials for this drug were nearing completion, and Solvay hoped to launch the product in mid-2004 and was anticipating annual sales of more than EUR 250 million.

Principal Subsidiaries: Alkor Draka S.A. Solvay BAP S.A. Mutuelle Solvay S.C.S. (99.9%) Peptisyntha & Cie S.N.C. Solvay Automotive Management and Research SNC Solvay Benvic & Cie Belgium S.N.C. Solvay Coordination Internationale des Crédits Commerciaux (CICC) S.A. SIFMAR - Solvay Industrial Foils Management and Research S.A. Solvay Interox S.A. Solvay Pharma & Cie S.N.C. Solvay Osterreich AG (Austria) Solvay do Brasil Ltda. (Brazil) Solvay Sodi AD (Bulgaria) Solvay Deutschland GmbH (Germany) Solvay Portugal - Produtos Quimicos S.A. Solvay Asia Pacific Pte. Ltd. (Singapore) Solvay Iberica S.L. (Spain) Solvay (Schweiz) AG (Switzerland) Solvay UK Holding Co. Ltd. Solvay America, Inc. (U.S.A.). The company maintains 398 subsidiaries and affiliated companies in 50 countries.

Principal Competitors: FMC Corporation The Dow Chemical Company Occidental Chemical Corporation Shin-Etsu Chemical Co., Ltd. Formosa Plastics Corporation PolyOne Corporation GE Plastics E.I. du Pont de Nemours and Company Atofina DuPont Dow Elastomers LLC Dyneon, LLC Ticona Sumitomo Chemical Company, Limited GE Specialty Materials Novartis AG GlaxoSmithKline plc.

  • Alperowicz, Natasha, "Solvay Redefines Traditions for Global Growth," Chemical Week, February 8, 1995, pp. 30-32.
  • ------, "Solvay's Shift: A Move to Specialties Pharma May Be Spun Off," Chemical Week, February 12, 2003, pp. 14-16.
  • Buckley, Neil, "Solvay Chooses Outsider," Financial Times, August 1, 1997, p. 26.
  • ------, "Solvay to Sell Animal Health Businesses," Financial Times, September 21, 1996, p. 11.
  • Choi, Audrey, "Solvay Tries to Drag Its Bernburg Factory 50 Years into the Present," Wall Street Journal, October 27, 1992, p. 1.
  • ------, "Updating East European Plants Is Taxing: Solvay's Reclaiming of Soda Ash Facility Challenges Firm," Wall Street Journal, November 20, 1992, p. B13A.
  • Choi, Audrey, and Bob Hagerty, "Belgium's Solvay Moves with More Elan," Wall Street Journal, May 29, 1992, p. A5A.
  • ------, "Solvay Tests a Prescription for Growth," Wall Street Journal Europe, May 20, 1992, p. 9.
  • Hagerty, Bob, "Belgium's Solvay to Market Certain Drugs with Upjohn," Wall Street Journal, May 22, 1991.
  • ------, "Solvay & Cie Announces Plan to Restructure," Wall Street Journal, November 20, 1989.
  • Hagerty, Bob, and Audrey Choi, "Solvay Agrees to Acquire Soda Ash Plant of Tenneco," Wall Street Journal Europe, April 24, 1992, p. 4.
  • Hunter, David, "An Ambitious Strategy Sparks New Excitement at Solvay," Chemical Week, April 19, 1989, pp. 34, 36, 38.
  • Luesby, Jenny, "Solvay Keeps Its Shine," Financial Times, February 18, 1997, p. 28.
  • "Solvay Steps Up Its Diversification Moves," Chemical Week, January 7, 1981, p. 58.
  • Spielman, Adam, "Solvay to Get Back Factory Taken by the Nazis in 1939," Wall Street Journal, August 21, 1991.
  • "Takeovers Bring Solvay Out of the Shadows," Financial Times, November 12, 1992, p. 27.
  • Westervelt, Robert, "Solvay Swaps PP for BP's Engineering Plastics," Chemical Week, January 3, 2001, p. 9.

Source: International Directory of Company Histories , Vol.61. St. James Press, 2004.


History

The Solvay Literary Club was organized on October 15, 1900, to operate a Reading Room located in Guild Hall. Although Guild Hall was owned by the Solvay Process Company, the Reading Room was open to all residents of Solvay and the area. Sometime later, the Reading Room became the Union Free School District #2 Library with O. Ware Clary as head librarian. Guild Hall&rsquos Reading Room collection was combined with the high school collection to form the new Solvay Public Library&rsquos collection of 2,042 books on opening day.

On January 14, 1903, as a result of correspondence between Lamont Stilwell, attorney for the Village of Solvay and Andrew Carnegie, Mr. Carnegie offered the village a gift of $10,000 to build a library. The village agreed to contribute $1,000 per year to operate the library and to provide a suitable site for the building. Two sites were offered to the village Frederick Hazard&rsquos offer of the corner lot on Woods and Orchard Roads was chosen over Mrs. Lucy Gere&rsquos Hall Avenue and Williams Street corner lot. Further, the Solvay Process Company agreed to match Mr. Carnegie&rsquos gift of $10,000 and to provide $500 per year for maintenance and support of the new library.

The Board of Trustees of the Solvay Public Library first met on April 13, 1903. Its first members were Frederick Hazard, George J. Schattle and Charles D. Richards. The Solvay Public Library was granted a charter by the New York State Board of Regents on May 21, 1903.

Architect James A. Randall of Syracuse was employed to design the new library building. He presented his final plans and specifications on October 1, 1902. The initial estimated cost was about $20,000 but when the building opened October 18, 1904, construction cost totaled $27,568.25. The Solvay Process Company and Mr. Hazard contributed a total of $17,568.25 toward the construction fund in addition to donating the site.

At its October 3, 1904 meeting, the library board appointed O. Ware Clary as Librarian, Cornelia Mertens as Assistant Librarian and Gilbert Saxby, janitor. Upon Clary&rsquos retirement in 1911, Miss Mertens became the Librarian and her father, Jacques, became the Assistant Librarian. A portrait of the Mertens still hangs in the library.
The Solvay Public Library operated a branch library in the Boyd Avenue School Building from 1915 to 1928. Additional collections were placed at the Lakeland, Prospect, Fairmount and Taunton Schools the Geddes Town Hall and the Pass and Seymour factory. By 1916, a regular weekly story hour was being conducted.

Over the years, many community groups have met at the library. Around 1913 the Village Improvement Society and the Boy Scouts met at the library and the Syracuse YWCA conducted Bible Classes for teenagers in the library. During World War I the community room was converted into a club for the soldiers camped at the State Fair Grounds. Mr. Mertens also gave French lessons to the soldiers.

In the 1930&rsquos, the Solvay Garden Club was organized at the library. In 1947, Mrs. James Cooper organized a social club for teens which met on Saturday nights. In later years, the Home Bureau, the Girl Scouts and Cooperative Extension also met at the library.

On January 1, 1962, the library became a member of the Onondaga Library System. It became a member of the Onondaga County Public Library system when the system was formed in 1974. Using combined federal and locally raised funds of over $243,000, the Solvay Public Library was completely renovated in 1979. Renovations included a new heating-air conditioning system, new lighting and wall-to-wall carpeting.

Two years later, the library catalog and circulation was automated. Through the Onondaga County Public Library, Solvay Public Library can secure virtually any book in the United States. In 1986, the Solvay Process Room was created to house the Solvay Process Collection donated by Allied Chemical Corporation.

In 1991, the Community Room at the library was renamed the Daniel W. Casey Community Room, in recognition of Mr. Casey&rsquos many years of dedicated service to the community as a Trustee of the Solvay Public Library. In 2001, the Solvay Centennial Committee donated a cast iron historical marker recognizing the library as a local landmark.

In April, 2008, the Library Addition and Renovation building project was completed. The work added an elevator and restored much of the existing building. Furniture salvaged from Hazard School was renovated and used in the Library.

On October 20, 2019, Solvay Public Library celebrated it&rsquos 115th Anniversary as one of the oldest Carnegie Libraries still in operation.


Solvay SA (SOLVY)

Participation notification by Blackrock Inc. Brussels, 26 May 2021, 08:30 CEST - According to Belgian transparency legislation (Law of May 2, 2007), BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.) recently sent to Solvay the following transparency notification indicating that it crossed the threshold of 3%. Here is a summary of the move: Date on which the threshold was crossedVoting rights after the transactionEquivalent financial instruments after the transactionTotalMay 19, 20213.04%0.15%3.19% The latest notification, dated May 20, 2021, contains the following information: Reason for the notification: acquisition or disposal of voting securities or voting rightsNotified by: BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.)Date on which the threshold is crossed: May 19, 2021Threshold of direct voting rights crossed: 3% upwardsDenominator: 105,876,416Additional information: The disclosure obligation arose due to voting rights attached to shares for BlackRock, Inc. going above 3%. Transparency notifications are available on the Investor Relations Section of Solvay's website. Attachments 20210526_transparency declaration Blackrock-EN Solvay_2021-05-19_Issuer_signed

Place A Bag On Your Car Mirror When Traveling

Brilliant Car Cleaning Hacks Local Dealers Wish You Didn’t Know

Outcome of 2021 Shareholders’ Meeting

Outcome of 2021 Shareholders’ Meeting Brussels, May 11, 2021, 17:45 CEST - Solvay today held its General Shareholders’ Meeting virtually. Shareholders voted in favor of all the resolutions proposed. More specifically, they approved the payment of a gross dividend of €3.75 per share for the year 2020. After deduction of the interim dividend of €1.50 gross per share, paid in January 2021, the balance amounts to €2.25 gross per share (€1.575 net, after deduction of 30% of withholding tax). Calendar of payment related to the 2020 final dividend May 17, 2021: ex-dateMay 18, 2021: record dateMay 19, 2021: payment date During the meeting, shareholders approved the reelection for a four year mandate for Nicolas Boël, Ilham Kadri, Bernard de Laguiche, Françoise de Viron and Agnès Lemarchand and for a three year mandate for Hervé Coppens d𧻬kenbrugge. They also approved the appointment of two new directors, Dr. Wolfgang Colberg and Edouard Janssen, to replace Amparo Moraleda and Evelyn du Monceau, whose mandates came to an end at this meeting. Details of the votes and the presentations of the Chairman and the CEO are now available on Solvay’s website, in the Investors section. Attachment Press release

Solvay SA to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 5, 2021 / Solvay SA (OTC PINK:SOLVY) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 5, 2021 at 3:00 PM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.

UPDATE 1-Belgium's Solvay sees 2021 results hit from higher input, freight costs

Belgian chemicals group Solvay said on Wednesday it expected rising raw material and logistics costs to hit results this year after oil prices rebounded and a container shortage pushed up freight rates. It said it completed five out six planned unit sales in the first quarter and expected to finalise the last one in the second quarter.

Solvay first quarter 2021 results: Strong start to the year with double-digit growth in Cash and EBITDA and record EBITDA margins

Register now to the webcast scheduled at 15:00 CESTLink to financial report Solvay first quarter 2021 resultsStrong start to the year with double-digit growth in Cash and EBITDA and record EBITDA margins May 5, 2021 at 7 a.m. CEST Highlights Net Sales in the first quarter of 2021 were up 1.9% organically driven by strong demand in automotive, with organic sales in Specialty Polymers up 10% year-on-year, exceptional performance in Coatis up 55%, and recovery in the mining industry driving Technology Solutions sales up 15%, whereas sales in Composites were 37% lower.Net Sales grew 8.6% organically year on year excluding Composites and Oil & Gas, which still face challenges yet have shown sequential improvement versus the fourth quarter.Structural cost savings of €80 million achieved in Q1, up 78% versus Q4 2020.Underlying EBITDA in Q1 2020 was up 10.3% organically yoy, and 7% higher than Q1 2019 on comparable FX & scope basis despite 3% lower sales, reflecting the impacts of significant cost reduction measures taken in the last 2 years. The underlying EBITDA margin increased yoy to a new record at 24.6% driven mainly by strong volume recovery in most markets and cost reductions measures, despite the adverse impacts such as increasing raw material and logistic prices as well as supply chain disruptions due to US storms and the Suez Canal blockage. This is 1.6 and 2.4 percentage points higher than Q1 2020 and Q1 2019, respectively.Underlying Net Profit was €240 million in Q1 2021, up 1.8% compared to Q1 2020.Free Cash Flow in Q1 2021 amounted to €282 million, up 40% of Q1 2020, reflecting continued working capital discipline even as activity levels increased, as well as the benefit of deleveraging debt and pensions. Total voluntary pension contributions of €0.8 billion since Q4 2019 generate an improvement of more than €100 million per annum.Progress on portfolio simplification, with the closure of 5 business line divestments in the first quarter and the last one occurring in Q2 2021.Reinvesting in Solvay One Planet, including a decision to invest further in energy transition at our Rheinberg Soda Ash plant with a complete phase out of coal. This action not only enables the site to be the lowest Soda Ash CO2 emitter globally (irrespective of the production process being natural or synthetic), but also creates significant economic value. Underlying, (in € million) Q1 2021Q1 2020% yoy% organicNet sales2,3732,474-4.1%+1.9%EBITDA583569+2.5%+10.3%EBITDA margin24.6%23.0%+1.6pp-FCF to shareholders from continuing operations282202+39.8%-FCF conversion ratio (LTM)54.8%40.4%+14.4pp- CEO Quote “First quarter results reflect the continued economic recovery visible across many of our markets. I am pleased to see that our disciplined structural actions taken last year to lower the company’s cost base have enabled strong quality of earnings. We have also maintained our sharp focus on cash management, delivering eight consecutive quarters of positive free cash flow generation. Looking ahead, we are investing in our growth platforms, our front line, and in innovation that will support sustainable top line growth across the mid-term.” 20211 Outlook Full year underlying EBITDA is estimated between €2.0 and €2.2 billion, and Free Cash Flow is estimated around €650 million, up from the prior estimate between €600 and €650 million. Safe harbor This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements. About Solvay Investor Relations Results documentationAnnual reportG.R.O.W. StrategyWhy invest in Solvay?Share informationCredit informationESG information Webcasts, podcasts and presentations 1 Barring additional deterioration related to a third wave of Covid-19 in the second half. Attachments Financial report Full press release

Mom's Payback - She Bought Neighbor's Property

After so much drama and many police visits, she got the upper hand. Who would’ve thought that a small piece of paper has such power?

Solvay raises cash flow target as cost cuts bear fruit

Solvay said on Wednesday it expects free cash flow to reach the upper end of its 2021 guidance range after the Belgian chemicals group beat first-quarter earnings expectations, helped by cost cuts and strong automotive sales. Solvay raised its cost cuts target last February to 500 million euros by 2024, from 350 million euros, and said it planned to cut 500 jobs by 2022. The company, which makes lithium derivatives for batteries, said automotive sales were up an underlying 19%, boosted by an 80% jump in hybrid and electric vehicle batteries, and offsetting continued weakness in civil aerospace due to COVID-19 lockdowns and restrictions.

BCP VII Jade Holdco (Cayman) Ltd -- Moody's affirms Cerdia's B3 rating changes outlook to negative from stable

Rating Action: Moody's affirms Cerdia's B3 rating changes outlook to negative from stableGlobal Credit Research - 28 Apr 2021Frankfurt am Main, April 28, 2021 -- Moody's Investors Service, ("Moody's") has today affirmed BCP VII Jade Holdco (Cayman) Ltd's ("Cerdia") corporate family rating (CFR) at B3 and its probability of default rating (PDR) at B3-PD. Concurrently, Moody's has affirmed at B3 the outstanding equivalent $595 million of senior secured term loans B due in May 2023 (split in a $ and E tranche) and also has affirmed at B3 the E65 million senior secured revolving credit facility (RCF) due end of May 2022 raised by Jade Germany GmbH, a direct subsidiary of Cerdia.

Evonik Industries AG -- Moody's downgrades Evonik to Baa2, changes outlook to stable

Rating Action: Moody's downgrades Evonik to Baa2, changes outlook to stableGlobal Credit Research - 20 Apr 2021Frankfurt am Main, April 20, 2021 -- Moody's Investors Service ("Moody's") today downgraded to Baa2 from Baa1 the long term issuer rating and senior unsecured bond ratings of Evonik Industries AG ("Evonik"). Moody's also downgraded to Baa2 from Baa1 the rating on the senior unsecured bonds of Evonik Finance B.V.. The rating outlook on both entities was changed to stable from negative.A full list of affected ratings can be found at the end of this press release.RATINGS RATIONALEThe downgrade of Evonik's long-term issuer rating to Baa2 reflects Moody's-adjusted gross financial leverage with debt/EBITDA that has been above 3.0x since 2016 and low Moody's-adjusted free cash flow (FCF) generation -- average of around E109 million in the 2016-2020 period -- that limits the ability to deleverage.

Solvay invites shareholders to the 2021 Annual General Meeting

Brussels, April 9, 2021, 8.30 a.m. CEST - Solvay today announced that it has published materials for the next General Shareholders' Meeting, which will be held on Tuesday May 11, 2021 in Brussels, at 10.30 a.m. CEST. All documents relating to this meeting are now available on www.solvay.com. In view of the exceptional situation related to the coronavirus, the Solvay General Shareholders’ Meeting will take place virtually. The Company has taken all necessary steps to enable shareholder interactions and questions at the meeting and has provided registration and participation information (see below). The company will continue to closely monitor the situation and will inform shareholders in due course, by means of a press release and on the company's website of any developments regarding the Shareholders’ meeting. Agenda’s main topics submitted to shareholders’ approval Shareholders will be asked to vote on a number of resolutions. They include the approval of the financial statements for the financial year 2020, the compensation report and the discharge to be given to the Directors and the auditors. The Board will also propose to approve a total gross dividend of €3.75 per share. Solvay continues to execute on its value-enhancing G.R.O.W. strategy to drive consistent, profitable growth and increased earnings power. As the Covid-19 crisis unfolded, the Group quickly adapted priorities to accelerate cost savings and cash delivery, generating a record level of free cash flow and €332 million of cost savings in 2020. Further, Solvay made significant progress towards its One Planet sustainability targets. This performance reflects the decisive nature of the Group’s response and the resilience and sustainability of its operating model. As a result, the Board proposes to distribute a stable dividend compared to 2019. Solvay is also nominating, for shareholder approval, two new director nominees, Dr. Wolfgang Colberg and Edouard Janssen, to replace Amparo Moraleda and Evelyn du Monceau, whose mandates come to an end in May 2021. Dr. Wolfgang Colberg, who is 61 and of German nationality, is currently Chairman of the Board of ChemicaInvest and Industrial Partner at Deutsche Invest Capital Partners. He is a Board member of Thyssenkrupp, Pernod Ricard and Burelle. Dr. Colberg started his career at the Bosch group, where he held various leadership positions in Europe and Central Asia. He was then Chief Financial Officer at BSH, before being Chief Financial Officer of Evonik Industries AG between 2009 and 2013. He was then an Industrial Partner of CVC Capital Partners between 2013 and 2019. Dr. Wolfgang Colberg holds a PhD in Business administration. Dr. Colberg will serve as independent Director on the Board of Solvay. Mr. Edouard Janssen, who is 42 and of Belgian nationality, is currently an Advisory Board member of the INSEAD Hoffmann Institute. Prior to this, Mr. Janssen spent most of his career within Solvay (until February 2021), holding various leadership positions in Europe and the Americas, including Vice‐President Strategy and M&A Manager, Finance Director of Solvin (a joint-venture between Solvay and BASF active in ChloroVinyls in Europe and in Russia) and Vice‐President & General Manager of the Aroma Global Business Unit for North and Latin Americas. Mr. Janssen holds an MBA at INSEAD. Nicolas Boël, Chairman of Solvay’s Board of Directors commented: “On behalf of the Board of Directors, I would like to thank Ms. Evelyn du Monceau and Ms. Amparo Moraleda for their significant contributions. We are pleased to propose Dr. Wolfgang Colberg and Mr. Edouard Janssen for appointment, confident that their experiences will further enhance the Board’s effectiveness at the service of Solvay ’s continued future development.” Meeting information The meeting will be broadcast via a live webcast, accessible to all shareholders via the Lumi AGM+ platform. Shareholders are invited to either vote by proxy before the meeting or electronically during the meeting. Although the webcast enables live interaction, shareholders are strongly encouraged to submit their questions in writing prior to the meeting, so that answers provided at the meetings can be as comprehensive and accurate as possible. All questions can be addressed to [email protected] Visit the Shareholders’ Meeting dedicated page for more details regarding the agenda, the admission conditions and voting methods. Attachment Solvay AGM 2021_ENG

Solvay Finance (America), LLC. -- Moody's affirms Solvay's Baa2 rating changes outlook to stable

Rating Action: Moody's affirms Solvay's Baa2 rating changes outlook to stableGlobal Credit Research - 07 Apr 2021Frankfurt am Main, April 07, 2021 -- Moody's Investors Service ("Moody's") today affirmed the Baa2 senior unsecured ratings issued by Solvay SA (Solvay) and its guaranteed subsidiaries Solvay Finance (America), LLC. and Cytec Industries Inc. In addition, Moody's affirmed the Prime-2 rating of the commercial paper program of Solvay and Solvay Finance (America), LLC, as well as the Ba1 ratings pref. Concurrently, Moody's changed the outlook on all ratings to stable from negative.RATINGS RATIONALEThe affirmation of ratings reflects the broad resilience of the majority of Solvay's activities during the coronavirus outbreak.

Solvay releases Integrated Report and Annual Report

In 2020, Solvay overcame headwinds to deliver strong financial performance, as well as significant progress on sustainability goals. Brussels, April 2, 2021, 8:30 CEST - Solvay today released its Integrated Report and Annual Report. The fully digital Integrated Report provides a comprehensive and integrated view of Solvay’s economic, environmental, and social performance for 2020. The Annual Report offers a detailed view of Solvay’s governance practices, risk management, business review, economic, environmental, social and financial performance for 2020. Although the year 2020 came with substantial challenges, each of them showcased the breadth and depth of Solvay’s strengths. As a leader in providing solutions to some of the world’s most pressing needs, in 2020 we were able to supply numerous products to help manage the pandemic. We were also able to continue to address increasing needs to: Conserve scarce resourcesRamp up hyper-connectivitySupport mobilityPrioritize clean sources of energyMake healthcare and sanitization solutions more accessibleEnable more efficient, cleaner product manufacturing andIncrease agricultural yields. Solvay accomplished all this while moving toward a low-carbon and more inclusive global economy. Sustainability is integrated in all our key strategic decisions, including research and innovation, capital expenditure, M&A activities and investment decisions. The 2020 Annual Report documents this convergence, and should be read in complement of the 2020 Integrated Report. Here are just a few highlights from these: Financial sustainability Knowing that financial sustainability is the foundation for all other types of sustainability, we took numerous steps to enhance our financial foundation and performance, including by: Delivering seven straight quarters of strong free cash flowAchieving cost savings of €332 million andReducing net debt by €1.2 billion.Making exceptional contributions to our pension plan to put us on track to reduce pension cash costs by €100 million per yearStructurally improve working capital, including reducing receivable overdue levels to a low single-digit record amount. Leaders in areas of rapidly growing demand In 2020, we took numerous significant steps to align our core products, services, and competencies with the most rapidly growing markets, regulatory, policy, and scientific demands, including: Launching two virus fighting innovations, which helped prevent the spread of COVID-19Adding a Key Accounts Program that is generating new business from our largest clients, while renewing long-term aerospace contractsProviding advanced materials to support growing demand for hyper-connectivitySupporting the semiconductor sector with key chemicals and materialsSupplying polymers for new generation OLED and flexible displaysLaunching our Green Hydrogen PlatformSupplying key materials to the 3D printing sector and partnering with software companies to provide complete 3D printing solutionsSupplying innovative products to meet the world’s new standards for cleanliness. Positioning Solvay as a sustainable company We took numerous steps to strengthen our commitments, including: Launching Solvay ONE Planet aligned with our G.R.O.W. strategy and PurposeDecreased structural greenhouse gas emissions by 8% since 2018, which is more than twice the annual average required by the Paris AgreementAdding Science-Based TargetsCoal phase-out and deployment of an energy transition programmeCreating innovative products that support human health including two key antiviral products and a large number of personal protection equipment itemsSupplying bio-based ingredients to the organic and natural consumables marketsPartnering with Mitsubishi to recycle more advanced materialsInitiating a battery recycling partnership with Veolia and ramping up our programs that extract and purify key battery Elements. Putting our people first We took numerous steps to recruit, retain, protect, listen to, value, and support our employees. In 2020, we: Created the Solvay Solidarity Fund to help employees adversely affected by the pandemicEnabled remote working as the Group’s global standardAdded pulse surveys that occur every six weeks to our many employee communications programsStrengthened talent pipeline with programs encouraging STEM-related careers and educational sessions andSet a goal of achieving gender parity amongst our mid- and senior level managers by 2035. “I’m so proud of what our team was able to accomplish in 2020: we delivered record free cash flow, achieved significant cost savings and made great strides on our Solvay One Planet commitments,” said Solvay CEO Ilham Kadri. “2020 was the year that we brought our Purpose – to bond people, ideas and elements to reinvent progress – to life. We demonstrated that we were essential to the world and we actually capitalized on the crisis, accelerating reforms to unleash our company’s full potential. Today, I can proudly assert that we have emerged stronger.” The Integrated report includes a video highlighting how Solvay made progress on its sustainability commitments. Watch Bonding for a better planet: Our sustainability performance in 2020 Solvay’s Integrated Report is aligned with the guiding principles and content elements of Integrated Reporting, as defined by the International Integrated Reporting Council (IIRC). In November 2020, Solvay’s CEO signed a commitment with the World Economic Forum International Business Council (IBC) to pilot a new set of metrics for stakeholder capitalism aligned with the Manifesto published at Davos in 2020. Solvay today also publishes its 2020 report on payment to governments. This document is available in the Financial filings section of Solvay's website. Attachments Solvay 2020 Annual Report Solvay 2020 payments to governments PR english - Solvay releases Integrated Report and Annual Report

Participation Notification by Solvac SA

Brussels, March 29, 2021, 08:30 CET - According to the Belgian transparency legislation in force (Law of May 2, 2007), SOLVAC SA (Rue des Champs Elysées 43 – 1050 Brussels – Belgium) has been notified by SSOM, an affiliate of Solvay SA, that it has crossed downwards the statutory declaration threshold of 3% of the existing voting rights emitted by Solvay SA, with a total of 2.99% (2.27% of direct voting rights + 0.72% of other financial instruments). Solvac SA has notified Solvay SA that, on March 19, 2021 the combined holding by Solvac and SSOM reached 33.80% of the existing voting rights. Shares held by SSOM are held as part of the Group's strategy to hedge the plan linked to stock options granted to senior executives of the Group. The transparency notification is available on the Investor Relations Section of Solvay's website. Attachments Press release in pdf format solvac 25-3-2021

Solvay full year 2020 results: Record Free Cash Flow and Cost Reductions

Register to the webcast scheduled at 14:30 CET here - Link to financial report - Link to financial calendar February 24, 2021 at 7 a.m. Solvay full year 2020 results Record Free Cash Flow and Cost Reductions Highlights Net Sales for the full year 2020 were down 10% organically, due to the impact from Covid on civil aero and oil & gas volumes, which were moderated by resilient demand in healthcare, consumer goods, personal care, and electronics. In the fourth quarter, net sales increased 5% sequentially versus Q3 driven by strong demand in automotive and electronics markets. Full year and fourth quarter sales, excluding civil aero and oil & gas, were down 5% and up 6% respectively, as a result of strong demand in automotive and electronics markets in Q4.Cost savings of €332 million were delivered in 2020, of which €175 million were structural savings. This result reflects the decisive nature of the Group’s response as it also accelerated and deepened the delivery of its strategic cost reduction programs. Underlying EBITDA margin for 2020 was 21.7%, and the EBITDA reduction was contained to 13.9% organically versus 2019 due to the volume impact from the Covid-19 pandemic. These results illustrate both the quality and resilience of the portfolio, and the delivery of cost mitigation actions.Underlying Net Profit was €618 million in 2020, with €96 million in the fourth quarter.In the face of a challenging 2020, Solvay delivered a record Free Cash Flow of €963 million, including around €260 million of one time benefits, reflecting swift actions taken, including disciplined working capital and effective capex management.The balance sheet was strengthened in 2020 with the significant reduction in net debt and provisions of €1.2 billion and €0.6 billion respectively, following the strong delivery in FCF.Total proposed dividend of €3.75 per share, subject to Shareholders' approval Q4 2020Q4 2019% yoy% organic Underlying, (in € million) FY 2020FY 2019% yoy% organic2,2142,440-9.3%-4.1%Net sales8,96510,244-12.5%-10.1%464525-11.7%-6.4%EBITDA1,9452,322-16.2%-13.9%21.0%21.5%-0.6pp-EBITDA margin21.7%22.7%-1.0pp-161261-38.3%-FCF to shareholders from continuing operations963606+58.8%-----FCF conversion ratio (LTM)51.1%27.8%+23.4pp- CEO Quote “I’m proud of the significant progress we made in 2020. We launched our Group’s Purpose and progressed on our ambitious ONE Planet roadmap as we deliver our G.R.O.W. strategy. As the crisis unfolded, we quickly adapted priorities to accelerate our cost and cash delivery, demonstrated the resilience of our business, while supporting our people through the launch of a Solidarity fund. I want to thank our employees for their perseverance, our customers for their valued partnerships, and our investors for their continued support. Building on the Q4 momentum and the strategic foundation now in place, we will emerge leaner and stronger, with innovation fueling our return to top-line growth.” Outlook First quarter 2021 EBITDA is estimated to be between €520 million and €550 million, and Free Cash Flow is expected to be between €600 and €650 million for full year 2021. Free cash flow indications reflect the benefits of reduced pension and financial charges, higher restructuring costs, reinvestment in working capital and capex to support innovation and growth. Additional structural cost savings are estimated at €150 million in 2021, more than offsetting fixed cost inflation, expected at around €75 million. This would take cumulative cost reductions over 2 years (2020-2021) to €325 million. New Strategic Initiatives Cost Savings Target Raised to €500 million In January, Solvay launched a new chapter of its strategic transformation aimed to further align its structure to its G.R.O.W. strategy. This builds on previous plans announced in 2020, and represents a profound simplification of all support functions to serve the business more effectively. The plan will lead to an additional net reduction of approximately 500 roles by the end of 2022 and incremental cost savings of €75 million. Subject to discussions with social partners, this plan together with previously announced plans will increase the mid-term cost savings target from €300 million announced in November 2019 to €500 million by 2024, of which €175 million has been delivered in 2020. As a consequence of the new restructuring plan, a non-cash restructuring provision of around €170 million will be recognized in Q1 2021. Portfolio and Business Update As part of the G.R.O.W. strategy, the Materials, Chemicals and Solutions segments were given distinct mandates reflecting different paths to value creation. Building upon this strategy, Solvay is taking steps to organize its Soda Ash & Derivatives business into a separate and fully controlled legal structure. These steps will reinforce internal financial and operational transparency and accountability, in line with its mandate of optimizing cash flow generation and returns, while increasing future strategic flexibility. Also aligned with its strategic simplification, and following the optimization of several businesses, Solvay has reached agreements1 to sell its interests in six commodity business lines. To date, these include the recent transactions for barium and strontium products (part of Special Chem), the European sodium percarbonate business (part of Peroxides), and the commodity amphoterics business (part of Novecare), the sodium chlorate business and related assets in Portugal (part of Peroxides), certain fluorine chemicals and its site in Korea (part of Special Chem) and the process materials product line (part of Composites). The Group expects completion of these transactions, which collectively represent annual sales of around €300 million, in the first half of 2021. Solvay will continue to explore other opportunities to further simplify its portfolio. Solvay also reached an agreement to purchase a seed coating technology to bolt-on to its existing agro products within the Novecare business. This is a natural extension to Solvay’s own AgRHO® family of sustainable seed boosting solutions and supports the drive toward more bio-based, sustainable technologies. 1 The completion of the transaction would remain subject to prior consultation with employee representatives and/or approval by the relevant regulatory authorities. Solvay ONE Planet Progress Update Solvay increased and broadened its ESG commitments in 2020. This is an integral element of the G.R.O.W. strategy and is directly aligned with its Purpose of bonding people, ideas, and elements to reinvent progress. Solvay’s ambitions center around three main pillars, including climate change, resource scarcity and promoting a better life. These are fully embedded into Solvay’s key decisions. Performance is measured and assessed regularly, and the extent of progress affects Short Term Incentive Plans for both leaders and employees. Solvay made good progress on many of these initiatives during 2020, though results reflect the combination of structural improvements and the temporary decline in economic activity levels. --- Safe harborThis press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Attachments 2020Q4-PR ENG-final 2020Q4_Financialreport_EN_final

Solvay launches hydrogen platform

Solvay’s polymer membranes technology will be a key element in hydrogen market Brussels, January 13, 2021 Solvay has launched a hydrogen platform that will bring together all the innovative material and chemical solutions the Group has to offer to advance the emerging hydrogen economy. At the heart of the platform is Solvay’s membrane technology (ion conducting polymer), which constitutes a necessary component in the process of hydrogen production.By creating this platform, Solvay is increasing its resources dedicated to this emerging market, including efforts in research and innovation. As from this year, Solvay is fully dedicating teams involving research, engineering, sales and marketing working together in crafting Solvay’s added value to the future hydrogen market.Together with its membrane technology, under the brand Aquivion® that will be a key contributor to the electrolyser and fuel cells markets, Solvay also intends to bring other hydrogen applications and components to the market, such as hydrogen tanks.“The hydrogen economy has taken-off, and with our new hydrogen platform, we are partnering with our customers in the electrolyser and fuel cells space to make it happen,” said Solvay CEO Ilham Kadri. “Green hydrogen will be one of the most competitive low carbon solutions for transportation applications in the near future and I’m proud that Solvay’s membrane technology will be a key element in the transition towards cleaner mobility, helping the fight against global climate change.”As part of this commitment, Solvay has also joined the Hydrogen Council, a global CEO-led initiative that brings together leading companies with a united vision and long-term ambition for hydrogen to foster the clean energy transition. Solvay’s hydrogen platform is integral to the Group’s One Planet initiative, which includes ten measurable commitments to achieve the SDGs across three focus areas: climate, resources and better life.Background Solvay has been researching and developing its ionomer technology for the past twenty years in preparation for the development of hydrogen technology. Solvay’s technology has demonstrated its value proposition with customers the company has multiple qualifications underway with sizable sales potential in the next few years.While lithium-ion batteries have emerged as the preferred solution to make the automotive sector more sustainable, this is not enough as they do not cover all needs related to the necessary decarbonization to make transportation truly sustainable. Hydrogen is poised to fill that gap.Production of green hydrogen via water electrolysis is expected to reach more than 100GW of global capacity by 2030, while the global fleet of fuel cell electric vehicles - ranging from large passenger cars to heavy-duty commercial vehicles, trucks, buses and even trains - is forecasted to reach several million vehicles by 2030.Clean hydrogen fuel is a key component of the EU's Green Deal, as it is a recognized technology needed to support ambitions towards an ecological and sustainable energy transition. Public support for hydrogen is increasing exponentially, with USD 10 billion of post-Covid19 stimulus being dedicated (mostly in Europe and APAC) to green hydrogen R&D and infrastructure deployment.Attachment * PR Hydrogen - EN

Solvay to sell its North American and European amphoteric surfactant business to OpenGate Capital

Solvay to sell its North American and European amphoteric surfactant business to OpenGate CapitalBrussels, January 5, 2021The Solvay Group agreed to sell its North American and European amphoteric surfactant business to OpenGate Capital, a private equity firm with headquarters in Los Angeles. The sale includes the three main production sites supporting the amphoteric product lines located in University Park, Illinois (USA), Genthin, Germany, Halifax, United Kingdom, and a tolling business in Turkey. The agreement also includes tolling and service agreements between Solvay and OpenGate to ensure a seamless transition and minimal customer disruption.“This agreement represents another critical step in the execution of our strategic plan as we further focus our home & personal care portfolio on growing specialty formulations and custom solutions,” commented Michael Radossich, president of Solvay's Novecare global business unit.In OpenGate Capital, Solvay has identified a strong buyer for the North American and European amphoteric surfactant business while the sale will generate additional resources for Solvay to invest in its strategic growth segments as part of its portfolio simplification journey. Solvay expects to close the sale by the end of March pending completion of all required social dialogues and regulatory approvals.Attachment * Solvay to sell its North American and European amphoteric surfactant business to OpenGate Capital

Mark your calendar for Solvay 2021 financial events

Mark your calendar for Solvay 2021 financial eventsBrussels, December 15, 2020, 08:30 CET - Solvay today publishes its 2021 financial calendar and invites the financial community to mark their calendar accordingly.EventDate Full year 2020 earningsFebruary 24, 2021 First quarter 2021 earningsMay 5, 2021 Ordinary General Shareholders’ MeetingMay 11, 2021 First half year 2021 earningsJuly 29, 2021 First nine months 2021 earningsOctober 28, 2021 Quiet period dates will be provided prior to each earnings’ season.We invite you to join our mailing list to receive events notifications. Recent webcasts and presentations * 9 months 2020 results (November 5) * Solvay ESG webinar (October 2) More information can be found on www.solvay.com/en/investors Attachment * 20201215_2021 financial calendar-EN

Univar (UNVR) and Solvay Novecare Expand Distribution Agreement

Univar (UNVR) extends its agreement with Solvay Novecare to distribute the latter's coating and industrial products.


USS PC-603

USS PC-603 was a PC-461 class subchaser assigned to the United States Navy's Pacific Fleet during World War II.

The PC-603 was laid down on May 9, 1942 at the Consolidated Shipbuilding Corp., Morris Heights, New York. She was launched June 30 sponsored by Mrs. J. H. Keatley and was commissioned on October 1, 1942.

During October and November of 1942, PC-603 conducted shakedown in the Atlantic along the southeastern coast of the United States and escorted coastal convoys between the Virginia Capes and Key West, Fla. She visited Guantanamo Bay, Cuba, on 29 November and Kingston, Jamaica, on the following day, before heading for Panama, The submarine chaser transited the canal on 5 December, stopped at San Diego from the 13th to the 18th, and reported for duty to the Commander, Northwestern Sea Frontier, at Seattle, Wash., on the 21st.

After almost four months at Seattle, she headed north on 11 April 1943. PC-603 made Kodiak, Alaska, on the 14th and, for the next seven months, escorted convoys and patrolled the cold waters surrounding the Aleutian Islands. Her most frequent ports of call were at Attu, Adak, and Amchitka, though she also visited Dutch Harbor, Shemya, and Kiska. On 29 November, PC-603 departed Adak and headed south. She entered Pearl Harbor on 8 December and spent the remainder of the war and the succeeding nine months assigned to the Hawaiian Sea Frontier. She was stationed at Pearl Harbor through 26 May 1944 then moved to Midway Island until December. She returned to Pearl Harbor in early January 1945 and operated between the major islands of the Hawaiian group until 10 May 1946, when she headed for the west coast.

Following a month at San Pedro, Calif., she headed south along the coast on 15 June and transited the Panama Canal at the end of the month. PC-603 continued her voyage and made Norfolk, Va., on 8 July. On 29 August, she departed Norfolk in the tow of Kiowa (AT F-72) and reached Philadelphia the following evening to begin duty in the 4th Naval District. On 8 January 1947, PC-603 was decommissioned at Philadelphia and was placed in service with the Naval Reserve Training Program. Operating along the length of the eastern seaboard and occasionally in the Caribbean Sea, the submarine chaser continued this assignment until October 1949. On the 15th, she was assigned to the Atlantic Reserve Fleet and, on the 26th, she reported to the Norfolk Group. On 1 February 1956, PC-603 was named Solvay. Her name was struck from the Navy list on 1 July 1960, and the disposal of her hulk was approved on 15 March 1961.


Solvay SA (SOLB.BR)

Participation notification by Blackrock Inc. Brussels, 26 May 2021, 08:30 CEST - According to Belgian transparency legislation (Law of May 2, 2007), BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.) recently sent to Solvay the following transparency notification indicating that it crossed the threshold of 3%. Here is a summary of the move: Date on which the threshold was crossedVoting rights after the transactionEquivalent financial instruments after the transactionTotalMay 19, 20213.04%0.15%3.19% The latest notification, dated May 20, 2021, contains the following information: Reason for the notification: acquisition or disposal of voting securities or voting rightsNotified by: BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.)Date on which the threshold is crossed: May 19, 2021Threshold of direct voting rights crossed: 3% upwardsDenominator: 105,876,416Additional information: The disclosure obligation arose due to voting rights attached to shares for BlackRock, Inc. going above 3%. Transparency notifications are available on the Investor Relations Section of Solvay's website. Attachments 20210526_transparency declaration Blackrock-EN Solvay_2021-05-19_Issuer_signed

Mom's Payback - She Bought Neighbor's Property

After so much drama and many police visits, she got the upper hand. Who would’ve thought that a small piece of paper has such power?

Outcome of 2021 Shareholders’ Meeting

Outcome of 2021 Shareholders’ Meeting Brussels, May 11, 2021, 17:45 CEST - Solvay today held its General Shareholders’ Meeting virtually. Shareholders voted in favor of all the resolutions proposed. More specifically, they approved the payment of a gross dividend of €3.75 per share for the year 2020. After deduction of the interim dividend of €1.50 gross per share, paid in January 2021, the balance amounts to €2.25 gross per share (€1.575 net, after deduction of 30% of withholding tax). Calendar of payment related to the 2020 final dividend May 17, 2021: ex-dateMay 18, 2021: record dateMay 19, 2021: payment date During the meeting, shareholders approved the reelection for a four year mandate for Nicolas Boël, Ilham Kadri, Bernard de Laguiche, Françoise de Viron and Agnès Lemarchand and for a three year mandate for Hervé Coppens d𧻬kenbrugge. They also approved the appointment of two new directors, Dr. Wolfgang Colberg and Edouard Janssen, to replace Amparo Moraleda and Evelyn du Monceau, whose mandates came to an end at this meeting. Details of the votes and the presentations of the Chairman and the CEO are now available on Solvay’s website, in the Investors section. Attachment Press release


Welcome to the Solvay Institutes

Following the legendary 1911 Conseil Solvay on "Radiation and the Quanta" chaired by Nobel Laureate Hendrik Lorentz, the International Solvay Institute for Physics was founded by Ernest Solvay in 1912. The International Solvay Institute for Chemistry was founded a year later, in 1913. The two Institutes merged in 1963 and became in 1970 the "International Solvay Institutes for Physics and Chemistry, founded by Ernest Solvay" with the Belgian legal status of an "Association sans but lucratif - Vereniging zonder winstoogmerk".

The mission of the Solvay Institutes is to support and develop curiosity-driven research in physics, chemistry and allied fields with the purpose of "enlarging and deepening the understanding of natural phenomena".

The central activity of the Institutes is the periodic organization of the celebrated Solvay Conferences on Physics and on Chemistry ("Conseils de Physique Solvay" and "Conseils de Chimie Solvay"). This support to fundamental science is complemented by the organization of open workshops on specific selected topics, international chairs, colloquia and an international doctoral school.

In addition to these activities, the Solvay Institutes also promote the popularization of science through the organization of the annual "Solvay public lectures" devoted to today's big scientific challenges.

Please click on the image below to access 'The Solvay Science project’, a virtual exhibition recounting key moments in the history of the Solvay Institutes.


Solvay Conference 1927

The International Solvay Institutes for Physics and Chemistry, located in Brussels, were founded by the Belgian industrialist Ernest Solvay in 1912, following the historic invitation-only 1911 Conference, considered a turning point in the world of physics. The Institutes coordinate conferences, workshops, seminars, and colloquia.

Following the initial success of 1911, the Solvay Conferences have been devoted to outstanding preeminent open problems in both physics and chemistry. The usual schedule is every three years, but there have been larger gaps.

Perhaps the most famous conference was the Fifth Solvay Conference on Electrons and Photons held from 24 to 29 October 1927, where the world's most notable physicists met to discuss the newly formulated quantum theory. The leading figures were Albert Einstein and Niels Bohr. 17 of the 29 attendees were or became Nobel Prize winners, including Marie Curie, who alone among them, had won Nobel Prizes in two separate scientific disciplines

I wanted to update my very old version into more realistic colors, and that properly reflected the season. It was late October, a chilly day - the trees were yellowing. Recent rains were still drying up on the steps leading up to Lycée Emile Jacqmain (today a high school in Brussels). The roses were still in bloom and barely clinging on the bushes behind the group.

Hope you all enjoy the colors! I also posted a name version on my fb/insta


SOLVAY S.A. A (SOL.BE)

Participation notification by Blackrock Inc. Brussels, 26 May 2021, 08:30 CEST - According to Belgian transparency legislation (Law of May 2, 2007), BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.) recently sent to Solvay the following transparency notification indicating that it crossed the threshold of 3%. Here is a summary of the move: Date on which the threshold was crossedVoting rights after the transactionEquivalent financial instruments after the transactionTotalMay 19, 20213.04%0.15%3.19% The latest notification, dated May 20, 2021, contains the following information: Reason for the notification: acquisition or disposal of voting securities or voting rightsNotified by: BlackRock Inc. (55 East 52nd Street, New York, NY, 10055, U.S.A.)Date on which the threshold is crossed: May 19, 2021Threshold of direct voting rights crossed: 3% upwardsDenominator: 105,876,416Additional information: The disclosure obligation arose due to voting rights attached to shares for BlackRock, Inc. going above 3%. Transparency notifications are available on the Investor Relations Section of Solvay's website. Attachments 20210526_transparency declaration Blackrock-EN Solvay_2021-05-19_Issuer_signed

Place A Bag On Your Car Mirror When Traveling

Brilliant Car Cleaning Hacks Local Dealers Wish You Didn’t Know

Outcome of 2021 Shareholders’ Meeting

Outcome of 2021 Shareholders’ Meeting Brussels, May 11, 2021, 17:45 CEST - Solvay today held its General Shareholders’ Meeting virtually. Shareholders voted in favor of all the resolutions proposed. More specifically, they approved the payment of a gross dividend of €3.75 per share for the year 2020. After deduction of the interim dividend of €1.50 gross per share, paid in January 2021, the balance amounts to €2.25 gross per share (€1.575 net, after deduction of 30% of withholding tax). Calendar of payment related to the 2020 final dividend May 17, 2021: ex-dateMay 18, 2021: record dateMay 19, 2021: payment date During the meeting, shareholders approved the reelection for a four year mandate for Nicolas Boël, Ilham Kadri, Bernard de Laguiche, Françoise de Viron and Agnès Lemarchand and for a three year mandate for Hervé Coppens d𧻬kenbrugge. They also approved the appointment of two new directors, Dr. Wolfgang Colberg and Edouard Janssen, to replace Amparo Moraleda and Evelyn du Monceau, whose mandates came to an end at this meeting. Details of the votes and the presentations of the Chairman and the CEO are now available on Solvay’s website, in the Investors section. Attachment Press release

Solvay SA to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / May 5, 2021 / Solvay SA (OTC PINK:SOLVY) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 5, 2021 at 3:00 PM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.

UPDATE 1-Belgium's Solvay sees 2021 results hit from higher input, freight costs

Belgian chemicals group Solvay said on Wednesday it expected rising raw material and logistics costs to hit results this year after oil prices rebounded and a container shortage pushed up freight rates. It said it completed five out six planned unit sales in the first quarter and expected to finalise the last one in the second quarter.

Solvay first quarter 2021 results: Strong start to the year with double-digit growth in Cash and EBITDA and record EBITDA margins

Register now to the webcast scheduled at 15:00 CESTLink to financial report Solvay first quarter 2021 resultsStrong start to the year with double-digit growth in Cash and EBITDA and record EBITDA margins May 5, 2021 at 7 a.m. CEST Highlights Net Sales in the first quarter of 2021 were up 1.9% organically driven by strong demand in automotive, with organic sales in Specialty Polymers up 10% year-on-year, exceptional performance in Coatis up 55%, and recovery in the mining industry driving Technology Solutions sales up 15%, whereas sales in Composites were 37% lower.Net Sales grew 8.6% organically year on year excluding Composites and Oil & Gas, which still face challenges yet have shown sequential improvement versus the fourth quarter.Structural cost savings of €80 million achieved in Q1, up 78% versus Q4 2020.Underlying EBITDA in Q1 2020 was up 10.3% organically yoy, and 7% higher than Q1 2019 on comparable FX & scope basis despite 3% lower sales, reflecting the impacts of significant cost reduction measures taken in the last 2 years. The underlying EBITDA margin increased yoy to a new record at 24.6% driven mainly by strong volume recovery in most markets and cost reductions measures, despite the adverse impacts such as increasing raw material and logistic prices as well as supply chain disruptions due to US storms and the Suez Canal blockage. This is 1.6 and 2.4 percentage points higher than Q1 2020 and Q1 2019, respectively.Underlying Net Profit was €240 million in Q1 2021, up 1.8% compared to Q1 2020.Free Cash Flow in Q1 2021 amounted to €282 million, up 40% of Q1 2020, reflecting continued working capital discipline even as activity levels increased, as well as the benefit of deleveraging debt and pensions. Total voluntary pension contributions of €0.8 billion since Q4 2019 generate an improvement of more than €100 million per annum.Progress on portfolio simplification, with the closure of 5 business line divestments in the first quarter and the last one occurring in Q2 2021.Reinvesting in Solvay One Planet, including a decision to invest further in energy transition at our Rheinberg Soda Ash plant with a complete phase out of coal. This action not only enables the site to be the lowest Soda Ash CO2 emitter globally (irrespective of the production process being natural or synthetic), but also creates significant economic value. Underlying, (in € million) Q1 2021Q1 2020% yoy% organicNet sales2,3732,474-4.1%+1.9%EBITDA583569+2.5%+10.3%EBITDA margin24.6%23.0%+1.6pp-FCF to shareholders from continuing operations282202+39.8%-FCF conversion ratio (LTM)54.8%40.4%+14.4pp- CEO Quote “First quarter results reflect the continued economic recovery visible across many of our markets. I am pleased to see that our disciplined structural actions taken last year to lower the company’s cost base have enabled strong quality of earnings. We have also maintained our sharp focus on cash management, delivering eight consecutive quarters of positive free cash flow generation. Looking ahead, we are investing in our growth platforms, our front line, and in innovation that will support sustainable top line growth across the mid-term.” 20211 Outlook Full year underlying EBITDA is estimated between €2.0 and €2.2 billion, and Free Cash Flow is estimated around €650 million, up from the prior estimate between €600 and €650 million. Safe harbor This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements. About Solvay Investor Relations Results documentationAnnual reportG.R.O.W. StrategyWhy invest in Solvay?Share informationCredit informationESG information Webcasts, podcasts and presentations 1 Barring additional deterioration related to a third wave of Covid-19 in the second half. Attachments Financial report Full press release

Mad Neighbor Got Karma When The Couple Bought.

After so much drama and many police visits, she got the upper hand. Who would’ve thought that a small piece of paper has such power?

Solvay raises cash flow target as cost cuts bear fruit

Solvay said on Wednesday it expects free cash flow to reach the upper end of its 2021 guidance range after the Belgian chemicals group beat first-quarter earnings expectations, helped by cost cuts and strong automotive sales. Solvay raised its cost cuts target last February to 500 million euros by 2024, from 350 million euros, and said it planned to cut 500 jobs by 2022. The company, which makes lithium derivatives for batteries, said automotive sales were up an underlying 19%, boosted by an 80% jump in hybrid and electric vehicle batteries, and offsetting continued weakness in civil aerospace due to COVID-19 lockdowns and restrictions.

BCP VII Jade Holdco (Cayman) Ltd -- Moody's affirms Cerdia's B3 rating changes outlook to negative from stable

Rating Action: Moody's affirms Cerdia's B3 rating changes outlook to negative from stableGlobal Credit Research - 28 Apr 2021Frankfurt am Main, April 28, 2021 -- Moody's Investors Service, ("Moody's") has today affirmed BCP VII Jade Holdco (Cayman) Ltd's ("Cerdia") corporate family rating (CFR) at B3 and its probability of default rating (PDR) at B3-PD. Concurrently, Moody's has affirmed at B3 the outstanding equivalent $595 million of senior secured term loans B due in May 2023 (split in a $ and E tranche) and also has affirmed at B3 the E65 million senior secured revolving credit facility (RCF) due end of May 2022 raised by Jade Germany GmbH, a direct subsidiary of Cerdia.

Evonik Industries AG -- Moody's downgrades Evonik to Baa2, changes outlook to stable

Rating Action: Moody's downgrades Evonik to Baa2, changes outlook to stableGlobal Credit Research - 20 Apr 2021Frankfurt am Main, April 20, 2021 -- Moody's Investors Service ("Moody's") today downgraded to Baa2 from Baa1 the long term issuer rating and senior unsecured bond ratings of Evonik Industries AG ("Evonik"). Moody's also downgraded to Baa2 from Baa1 the rating on the senior unsecured bonds of Evonik Finance B.V.. The rating outlook on both entities was changed to stable from negative.A full list of affected ratings can be found at the end of this press release.RATINGS RATIONALEThe downgrade of Evonik's long-term issuer rating to Baa2 reflects Moody's-adjusted gross financial leverage with debt/EBITDA that has been above 3.0x since 2016 and low Moody's-adjusted free cash flow (FCF) generation -- average of around E109 million in the 2016-2020 period -- that limits the ability to deleverage.

Solvay invites shareholders to the 2021 Annual General Meeting

Brussels, April 9, 2021, 8.30 a.m. CEST - Solvay today announced that it has published materials for the next General Shareholders' Meeting, which will be held on Tuesday May 11, 2021 in Brussels, at 10.30 a.m. CEST. All documents relating to this meeting are now available on www.solvay.com. In view of the exceptional situation related to the coronavirus, the Solvay General Shareholders’ Meeting will take place virtually. The Company has taken all necessary steps to enable shareholder interactions and questions at the meeting and has provided registration and participation information (see below). The company will continue to closely monitor the situation and will inform shareholders in due course, by means of a press release and on the company's website of any developments regarding the Shareholders’ meeting. Agenda’s main topics submitted to shareholders’ approval Shareholders will be asked to vote on a number of resolutions. They include the approval of the financial statements for the financial year 2020, the compensation report and the discharge to be given to the Directors and the auditors. The Board will also propose to approve a total gross dividend of €3.75 per share. Solvay continues to execute on its value-enhancing G.R.O.W. strategy to drive consistent, profitable growth and increased earnings power. As the Covid-19 crisis unfolded, the Group quickly adapted priorities to accelerate cost savings and cash delivery, generating a record level of free cash flow and €332 million of cost savings in 2020. Further, Solvay made significant progress towards its One Planet sustainability targets. This performance reflects the decisive nature of the Group’s response and the resilience and sustainability of its operating model. As a result, the Board proposes to distribute a stable dividend compared to 2019. Solvay is also nominating, for shareholder approval, two new director nominees, Dr. Wolfgang Colberg and Edouard Janssen, to replace Amparo Moraleda and Evelyn du Monceau, whose mandates come to an end in May 2021. Dr. Wolfgang Colberg, who is 61 and of German nationality, is currently Chairman of the Board of ChemicaInvest and Industrial Partner at Deutsche Invest Capital Partners. He is a Board member of Thyssenkrupp, Pernod Ricard and Burelle. Dr. Colberg started his career at the Bosch group, where he held various leadership positions in Europe and Central Asia. He was then Chief Financial Officer at BSH, before being Chief Financial Officer of Evonik Industries AG between 2009 and 2013. He was then an Industrial Partner of CVC Capital Partners between 2013 and 2019. Dr. Wolfgang Colberg holds a PhD in Business administration. Dr. Colberg will serve as independent Director on the Board of Solvay. Mr. Edouard Janssen, who is 42 and of Belgian nationality, is currently an Advisory Board member of the INSEAD Hoffmann Institute. Prior to this, Mr. Janssen spent most of his career within Solvay (until February 2021), holding various leadership positions in Europe and the Americas, including Vice‐President Strategy and M&A Manager, Finance Director of Solvin (a joint-venture between Solvay and BASF active in ChloroVinyls in Europe and in Russia) and Vice‐President & General Manager of the Aroma Global Business Unit for North and Latin Americas. Mr. Janssen holds an MBA at INSEAD. Nicolas Boël, Chairman of Solvay’s Board of Directors commented: “On behalf of the Board of Directors, I would like to thank Ms. Evelyn du Monceau and Ms. Amparo Moraleda for their significant contributions. We are pleased to propose Dr. Wolfgang Colberg and Mr. Edouard Janssen for appointment, confident that their experiences will further enhance the Board’s effectiveness at the service of Solvay ’s continued future development.” Meeting information The meeting will be broadcast via a live webcast, accessible to all shareholders via the Lumi AGM+ platform. Shareholders are invited to either vote by proxy before the meeting or electronically during the meeting. Although the webcast enables live interaction, shareholders are strongly encouraged to submit their questions in writing prior to the meeting, so that answers provided at the meetings can be as comprehensive and accurate as possible. All questions can be addressed to [email protected] Visit the Shareholders’ Meeting dedicated page for more details regarding the agenda, the admission conditions and voting methods. Attachment Solvay AGM 2021_ENG

How to fall in love with a new language?

We Tested This App To See If You Could Learn A Language In 7 Days.

Solvay Finance (America), LLC. -- Moody's affirms Solvay's Baa2 rating changes outlook to stable

Rating Action: Moody's affirms Solvay's Baa2 rating changes outlook to stableGlobal Credit Research - 07 Apr 2021Frankfurt am Main, April 07, 2021 -- Moody's Investors Service ("Moody's") today affirmed the Baa2 senior unsecured ratings issued by Solvay SA (Solvay) and its guaranteed subsidiaries Solvay Finance (America), LLC. and Cytec Industries Inc. In addition, Moody's affirmed the Prime-2 rating of the commercial paper program of Solvay and Solvay Finance (America), LLC, as well as the Ba1 ratings pref. Concurrently, Moody's changed the outlook on all ratings to stable from negative.RATINGS RATIONALEThe affirmation of ratings reflects the broad resilience of the majority of Solvay's activities during the coronavirus outbreak.

Solvay releases Integrated Report and Annual Report

In 2020, Solvay overcame headwinds to deliver strong financial performance, as well as significant progress on sustainability goals. Brussels, April 2, 2021, 8:30 CEST - Solvay today released its Integrated Report and Annual Report. The fully digital Integrated Report provides a comprehensive and integrated view of Solvay’s economic, environmental, and social performance for 2020. The Annual Report offers a detailed view of Solvay’s governance practices, risk management, business review, economic, environmental, social and financial performance for 2020. Although the year 2020 came with substantial challenges, each of them showcased the breadth and depth of Solvay’s strengths. As a leader in providing solutions to some of the world’s most pressing needs, in 2020 we were able to supply numerous products to help manage the pandemic. We were also able to continue to address increasing needs to: Conserve scarce resourcesRamp up hyper-connectivitySupport mobilityPrioritize clean sources of energyMake healthcare and sanitization solutions more accessibleEnable more efficient, cleaner product manufacturing andIncrease agricultural yields. Solvay accomplished all this while moving toward a low-carbon and more inclusive global economy. Sustainability is integrated in all our key strategic decisions, including research and innovation, capital expenditure, M&A activities and investment decisions. The 2020 Annual Report documents this convergence, and should be read in complement of the 2020 Integrated Report. Here are just a few highlights from these: Financial sustainability Knowing that financial sustainability is the foundation for all other types of sustainability, we took numerous steps to enhance our financial foundation and performance, including by: Delivering seven straight quarters of strong free cash flowAchieving cost savings of €332 million andReducing net debt by €1.2 billion.Making exceptional contributions to our pension plan to put us on track to reduce pension cash costs by €100 million per yearStructurally improve working capital, including reducing receivable overdue levels to a low single-digit record amount. Leaders in areas of rapidly growing demand In 2020, we took numerous significant steps to align our core products, services, and competencies with the most rapidly growing markets, regulatory, policy, and scientific demands, including: Launching two virus fighting innovations, which helped prevent the spread of COVID-19Adding a Key Accounts Program that is generating new business from our largest clients, while renewing long-term aerospace contractsProviding advanced materials to support growing demand for hyper-connectivitySupporting the semiconductor sector with key chemicals and materialsSupplying polymers for new generation OLED and flexible displaysLaunching our Green Hydrogen PlatformSupplying key materials to the 3D printing sector and partnering with software companies to provide complete 3D printing solutionsSupplying innovative products to meet the world’s new standards for cleanliness. Positioning Solvay as a sustainable company We took numerous steps to strengthen our commitments, including: Launching Solvay ONE Planet aligned with our G.R.O.W. strategy and PurposeDecreased structural greenhouse gas emissions by 8% since 2018, which is more than twice the annual average required by the Paris AgreementAdding Science-Based TargetsCoal phase-out and deployment of an energy transition programmeCreating innovative products that support human health including two key antiviral products and a large number of personal protection equipment itemsSupplying bio-based ingredients to the organic and natural consumables marketsPartnering with Mitsubishi to recycle more advanced materialsInitiating a battery recycling partnership with Veolia and ramping up our programs that extract and purify key battery Elements. Putting our people first We took numerous steps to recruit, retain, protect, listen to, value, and support our employees. In 2020, we: Created the Solvay Solidarity Fund to help employees adversely affected by the pandemicEnabled remote working as the Group’s global standardAdded pulse surveys that occur every six weeks to our many employee communications programsStrengthened talent pipeline with programs encouraging STEM-related careers and educational sessions andSet a goal of achieving gender parity amongst our mid- and senior level managers by 2035. “I’m so proud of what our team was able to accomplish in 2020: we delivered record free cash flow, achieved significant cost savings and made great strides on our Solvay One Planet commitments,” said Solvay CEO Ilham Kadri. “2020 was the year that we brought our Purpose – to bond people, ideas and elements to reinvent progress – to life. We demonstrated that we were essential to the world and we actually capitalized on the crisis, accelerating reforms to unleash our company’s full potential. Today, I can proudly assert that we have emerged stronger.” The Integrated report includes a video highlighting how Solvay made progress on its sustainability commitments. Watch Bonding for a better planet: Our sustainability performance in 2020 Solvay’s Integrated Report is aligned with the guiding principles and content elements of Integrated Reporting, as defined by the International Integrated Reporting Council (IIRC). In November 2020, Solvay’s CEO signed a commitment with the World Economic Forum International Business Council (IBC) to pilot a new set of metrics for stakeholder capitalism aligned with the Manifesto published at Davos in 2020. Solvay today also publishes its 2020 report on payment to governments. This document is available in the Financial filings section of Solvay's website. Attachments Solvay 2020 Annual Report Solvay 2020 payments to governments PR english - Solvay releases Integrated Report and Annual Report

Participation Notification by Solvac SA

Brussels, March 29, 2021, 08:30 CET - According to the Belgian transparency legislation in force (Law of May 2, 2007), SOLVAC SA (Rue des Champs Elysées 43 – 1050 Brussels – Belgium) has been notified by SSOM, an affiliate of Solvay SA, that it has crossed downwards the statutory declaration threshold of 3% of the existing voting rights emitted by Solvay SA, with a total of 2.99% (2.27% of direct voting rights + 0.72% of other financial instruments). Solvac SA has notified Solvay SA that, on March 19, 2021 the combined holding by Solvac and SSOM reached 33.80% of the existing voting rights. Shares held by SSOM are held as part of the Group's strategy to hedge the plan linked to stock options granted to senior executives of the Group. The transparency notification is available on the Investor Relations Section of Solvay's website. Attachments Press release in pdf format solvac 25-3-2021

Solvay full year 2020 results: Record Free Cash Flow and Cost Reductions

Register to the webcast scheduled at 14:30 CET here - Link to financial report - Link to financial calendar February 24, 2021 at 7 a.m. Solvay full year 2020 results Record Free Cash Flow and Cost Reductions Highlights Net Sales for the full year 2020 were down 10% organically, due to the impact from Covid on civil aero and oil & gas volumes, which were moderated by resilient demand in healthcare, consumer goods, personal care, and electronics. In the fourth quarter, net sales increased 5% sequentially versus Q3 driven by strong demand in automotive and electronics markets. Full year and fourth quarter sales, excluding civil aero and oil & gas, were down 5% and up 6% respectively, as a result of strong demand in automotive and electronics markets in Q4.Cost savings of €332 million were delivered in 2020, of which €175 million were structural savings. This result reflects the decisive nature of the Group’s response as it also accelerated and deepened the delivery of its strategic cost reduction programs. Underlying EBITDA margin for 2020 was 21.7%, and the EBITDA reduction was contained to 13.9% organically versus 2019 due to the volume impact from the Covid-19 pandemic. These results illustrate both the quality and resilience of the portfolio, and the delivery of cost mitigation actions.Underlying Net Profit was €618 million in 2020, with €96 million in the fourth quarter.In the face of a challenging 2020, Solvay delivered a record Free Cash Flow of €963 million, including around €260 million of one time benefits, reflecting swift actions taken, including disciplined working capital and effective capex management.The balance sheet was strengthened in 2020 with the significant reduction in net debt and provisions of €1.2 billion and €0.6 billion respectively, following the strong delivery in FCF.Total proposed dividend of €3.75 per share, subject to Shareholders' approval Q4 2020Q4 2019% yoy% organic Underlying, (in € million) FY 2020FY 2019% yoy% organic2,2142,440-9.3%-4.1%Net sales8,96510,244-12.5%-10.1%464525-11.7%-6.4%EBITDA1,9452,322-16.2%-13.9%21.0%21.5%-0.6pp-EBITDA margin21.7%22.7%-1.0pp-161261-38.3%-FCF to shareholders from continuing operations963606+58.8%-----FCF conversion ratio (LTM)51.1%27.8%+23.4pp- CEO Quote “I’m proud of the significant progress we made in 2020. We launched our Group’s Purpose and progressed on our ambitious ONE Planet roadmap as we deliver our G.R.O.W. strategy. As the crisis unfolded, we quickly adapted priorities to accelerate our cost and cash delivery, demonstrated the resilience of our business, while supporting our people through the launch of a Solidarity fund. I want to thank our employees for their perseverance, our customers for their valued partnerships, and our investors for their continued support. Building on the Q4 momentum and the strategic foundation now in place, we will emerge leaner and stronger, with innovation fueling our return to top-line growth.” Outlook First quarter 2021 EBITDA is estimated to be between €520 million and €550 million, and Free Cash Flow is expected to be between €600 and €650 million for full year 2021. Free cash flow indications reflect the benefits of reduced pension and financial charges, higher restructuring costs, reinvestment in working capital and capex to support innovation and growth. Additional structural cost savings are estimated at €150 million in 2021, more than offsetting fixed cost inflation, expected at around €75 million. This would take cumulative cost reductions over 2 years (2020-2021) to €325 million. New Strategic Initiatives Cost Savings Target Raised to €500 million In January, Solvay launched a new chapter of its strategic transformation aimed to further align its structure to its G.R.O.W. strategy. This builds on previous plans announced in 2020, and represents a profound simplification of all support functions to serve the business more effectively. The plan will lead to an additional net reduction of approximately 500 roles by the end of 2022 and incremental cost savings of €75 million. Subject to discussions with social partners, this plan together with previously announced plans will increase the mid-term cost savings target from €300 million announced in November 2019 to €500 million by 2024, of which €175 million has been delivered in 2020. As a consequence of the new restructuring plan, a non-cash restructuring provision of around €170 million will be recognized in Q1 2021. Portfolio and Business Update As part of the G.R.O.W. strategy, the Materials, Chemicals and Solutions segments were given distinct mandates reflecting different paths to value creation. Building upon this strategy, Solvay is taking steps to organize its Soda Ash & Derivatives business into a separate and fully controlled legal structure. These steps will reinforce internal financial and operational transparency and accountability, in line with its mandate of optimizing cash flow generation and returns, while increasing future strategic flexibility. Also aligned with its strategic simplification, and following the optimization of several businesses, Solvay has reached agreements1 to sell its interests in six commodity business lines. To date, these include the recent transactions for barium and strontium products (part of Special Chem), the European sodium percarbonate business (part of Peroxides), and the commodity amphoterics business (part of Novecare), the sodium chlorate business and related assets in Portugal (part of Peroxides), certain fluorine chemicals and its site in Korea (part of Special Chem) and the process materials product line (part of Composites). The Group expects completion of these transactions, which collectively represent annual sales of around €300 million, in the first half of 2021. Solvay will continue to explore other opportunities to further simplify its portfolio. Solvay also reached an agreement to purchase a seed coating technology to bolt-on to its existing agro products within the Novecare business. This is a natural extension to Solvay’s own AgRHO® family of sustainable seed boosting solutions and supports the drive toward more bio-based, sustainable technologies. 1 The completion of the transaction would remain subject to prior consultation with employee representatives and/or approval by the relevant regulatory authorities. Solvay ONE Planet Progress Update Solvay increased and broadened its ESG commitments in 2020. This is an integral element of the G.R.O.W. strategy and is directly aligned with its Purpose of bonding people, ideas, and elements to reinvent progress. Solvay’s ambitions center around three main pillars, including climate change, resource scarcity and promoting a better life. These are fully embedded into Solvay’s key decisions. Performance is measured and assessed regularly, and the extent of progress affects Short Term Incentive Plans for both leaders and employees. Solvay made good progress on many of these initiatives during 2020, though results reflect the combination of structural improvements and the temporary decline in economic activity levels. --- Safe harborThis press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Attachments 2020Q4-PR ENG-final 2020Q4_Financialreport_EN_final

Solvay launches hydrogen platform

Solvay’s polymer membranes technology will be a key element in hydrogen market Brussels, January 13, 2021 Solvay has launched a hydrogen platform that will bring together all the innovative material and chemical solutions the Group has to offer to advance the emerging hydrogen economy. At the heart of the platform is Solvay’s membrane technology (ion conducting polymer), which constitutes a necessary component in the process of hydrogen production.By creating this platform, Solvay is increasing its resources dedicated to this emerging market, including efforts in research and innovation. As from this year, Solvay is fully dedicating teams involving research, engineering, sales and marketing working together in crafting Solvay’s added value to the future hydrogen market.Together with its membrane technology, under the brand Aquivion® that will be a key contributor to the electrolyser and fuel cells markets, Solvay also intends to bring other hydrogen applications and components to the market, such as hydrogen tanks.“The hydrogen economy has taken-off, and with our new hydrogen platform, we are partnering with our customers in the electrolyser and fuel cells space to make it happen,” said Solvay CEO Ilham Kadri. “Green hydrogen will be one of the most competitive low carbon solutions for transportation applications in the near future and I’m proud that Solvay’s membrane technology will be a key element in the transition towards cleaner mobility, helping the fight against global climate change.”As part of this commitment, Solvay has also joined the Hydrogen Council, a global CEO-led initiative that brings together leading companies with a united vision and long-term ambition for hydrogen to foster the clean energy transition. Solvay’s hydrogen platform is integral to the Group’s One Planet initiative, which includes ten measurable commitments to achieve the SDGs across three focus areas: climate, resources and better life.Background Solvay has been researching and developing its ionomer technology for the past twenty years in preparation for the development of hydrogen technology. Solvay’s technology has demonstrated its value proposition with customers the company has multiple qualifications underway with sizable sales potential in the next few years.While lithium-ion batteries have emerged as the preferred solution to make the automotive sector more sustainable, this is not enough as they do not cover all needs related to the necessary decarbonization to make transportation truly sustainable. Hydrogen is poised to fill that gap.Production of green hydrogen via water electrolysis is expected to reach more than 100GW of global capacity by 2030, while the global fleet of fuel cell electric vehicles - ranging from large passenger cars to heavy-duty commercial vehicles, trucks, buses and even trains - is forecasted to reach several million vehicles by 2030.Clean hydrogen fuel is a key component of the EU's Green Deal, as it is a recognized technology needed to support ambitions towards an ecological and sustainable energy transition. Public support for hydrogen is increasing exponentially, with USD 10 billion of post-Covid19 stimulus being dedicated (mostly in Europe and APAC) to green hydrogen R&D and infrastructure deployment.Attachment * PR Hydrogen - EN

Solvay to sell its North American and European amphoteric surfactant business to OpenGate Capital

Solvay to sell its North American and European amphoteric surfactant business to OpenGate CapitalBrussels, January 5, 2021The Solvay Group agreed to sell its North American and European amphoteric surfactant business to OpenGate Capital, a private equity firm with headquarters in Los Angeles. The sale includes the three main production sites supporting the amphoteric product lines located in University Park, Illinois (USA), Genthin, Germany, Halifax, United Kingdom, and a tolling business in Turkey. The agreement also includes tolling and service agreements between Solvay and OpenGate to ensure a seamless transition and minimal customer disruption.“This agreement represents another critical step in the execution of our strategic plan as we further focus our home & personal care portfolio on growing specialty formulations and custom solutions,” commented Michael Radossich, president of Solvay's Novecare global business unit.In OpenGate Capital, Solvay has identified a strong buyer for the North American and European amphoteric surfactant business while the sale will generate additional resources for Solvay to invest in its strategic growth segments as part of its portfolio simplification journey. Solvay expects to close the sale by the end of March pending completion of all required social dialogues and regulatory approvals.Attachment * Solvay to sell its North American and European amphoteric surfactant business to OpenGate Capital

Mark your calendar for Solvay 2021 financial events

Mark your calendar for Solvay 2021 financial eventsBrussels, December 15, 2020, 08:30 CET - Solvay today publishes its 2021 financial calendar and invites the financial community to mark their calendar accordingly.EventDate Full year 2020 earningsFebruary 24, 2021 First quarter 2021 earningsMay 5, 2021 Ordinary General Shareholders’ MeetingMay 11, 2021 First half year 2021 earningsJuly 29, 2021 First nine months 2021 earningsOctober 28, 2021 Quiet period dates will be provided prior to each earnings’ season.We invite you to join our mailing list to receive events notifications. Recent webcasts and presentations * 9 months 2020 results (November 5) * Solvay ESG webinar (October 2) More information can be found on www.solvay.com/en/investors Attachment * 20201215_2021 financial calendar-EN

Univar (UNVR) and Solvay Novecare Expand Distribution Agreement

Univar (UNVR) extends its agreement with Solvay Novecare to distribute the latter's coating and industrial products.


Watch the video: A Business Professor Starts A Company In Startup Simulator (June 2022).


Comments:

  1. Masruq

    I consider, that you are mistaken. Let's discuss it. Write to me in PM, we will communicate.

  2. Ealdwode

    You are making a mistake. I can prove it. Email me at PM.

  3. Toland

    your idea is beautiful



Write a message