Solvay to split into two independent public companies in 2H 2023

Solvay will separate into two independent public companies, one for its chemicals business and one for its specialty materials and solutions one, the company said in a statement on Tuesday.

The Belgian company expects the transaction to be completed in the second half of 2023, subject to market and customary closing conditions.

"Our successful focus on cash, costs, and returns has strengthened the Materials and Solutions segments to be more self-sustaining and profitable. At the same time, the Chemicals segment has continued its strong track record of resilient cash generation," CEO Ilham Kadri said in a statement.

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