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Solvay negotiating selling its PM business

12
Nov '20
Pic: Solvay
Pic: Solvay
Composites One is negotiating with Solvay to take over its Process Materials (PM) business. The two companies have entered an exclusive negotiation period. Solvay’s PM business provides a broad array of vacuum bagging materials including bagging films, breather fabrics, release films and fabrics, peel plies, sealant tapes plus valves and hoses.

Additionally, the business is a leader in the manufacture of tailored consumable kits and hard and soft tooling.

“Solvay has significantly strengthened the Process Materials business over the last several years. The proposed transaction will deliver value for our shareholders and enable Solvay to continue focusing on our core composites technology portfolio. The Process Materials employees and customers will greatly benefit from this business being part of Composites One’s established and recognised distribution infrastructure. Composites One’s intent is to grow and invest in the business, fostering innovation, reliability and customer service and building on the excellent work our teammates have done so far,” said Carmelo Lo Faro, president of Solvay Composite Materials Global Business Unit.

“As their distributor for over two years, we have worked closely with Solvay’s knowledgeable leadership and team members and have seen their focus on serving customers - we know this business is an excellent addition to Composites One. Through their outstanding team, the Process Materials business provides us with a global connection to wind and aerospace customers,” commented Steve Dehmlow, CEO of Composites One.

The completion of the transaction, expected early Q1, would remain subject to following social processes and approval by the relevant regulatory authorities.

Fibre2Fashion News Desk (SV)

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