Solvay successfully completes acquisition of Ausimont, confirms leadership in fluorinated specialities
US and European competition authorities approved the Group's largest acquisition ever
Following approval by the European Commission and the United States Federal Trade Commission, Solvay today completed its acquisition of Ausimont, the fluorinated specialties group, from Edison and Longside International. As announced on December 21, 2001 (see Solvay's press release of that date), this EUR 1.3 billion acquisition is the largest in the history of Solvay. The integration of Ausimont doubles the size of Solvay's activities in the high-growth, high-added-value fluorinated specialties sector, while extending the Group's product portfolio significantly. On the basis of 2001 figures, Solvay's fluorinated specialties generate a total annual proforma turnover of EUR 860 million, with 2,700 employees.
The approval of the European Commission and the Federal Trade Commission was subject to the following divestments :
Ausimont's persalts businesses in Bussi (Italy), which include a 50% shareholding in MedAvox, a joint venture with Degussa; Ausimont's hydrogen peroxide activities in Bussi, on which MedAvox depends for the supply of feedstock; Solvay's polyvinylidene fluoride (PVDF) activities in Decatur (Alabama), which include a 50% shareholding in Alventia, a joint venture with Dyneon that manufactures VF2 - a building block of PVDF.
The integrity of Ausimont as a producer of fluorinated specialties and the efficiency of the combined businesses will be unaffected by the divestments of these activities, which had a total proforma turnover of EUR 74 million in 2001.
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