Solvay poised to acquire Ausimont
4 Jan 2002
Solvay has signed an agreement with Montedison and Longside International aiming at acquiring Ausimont, the fluorinated specialties group.
This acquisition would be the largest ever made by Solvay and would significantly upgrade the Group's product portfolio, by doubling the size of its activities in the fluorinated specialties sector.
After the completion of the transaction, Solvay's fluorinated specialties would generate an annual proforma turnover of approximately EUR 900 million, with 2,700 employees. Solvay would then be the second largest world-wide producer of fluoroproducts.
The proposed transaction is subject to regulatory approval by the relevant authorities. Upon satisfaction of this condition, Solvay would acquire 100% of the capital of Ausimont and 100% of Agora, Ausimont's holding company, for EUR 1.3 billion.
Completion of the acquisition is anticipated in the first half of 2002.
