Solvay is a Belgian multinational chemical company established in 1863, with its headquarters located in Neder-Over-Heembeek, Brussels, Belgium. Since the end of 2023, following its demerger with the creation of the new Syensqo entity, Solvay has specialized in essential chemistry and employs over 9,000 people in 40 countries.[10]
History
The historic establishment in Couillet, BelgiumMedal cast in 1913 to commemorate the 50th anniversary of Solvay and Company. Text (in French) reads "Ernest et Alfred Solvay".
Following its integration with Rhodia, the Committee of Executive Members at Solvay reorganised its various business units into five segments – Consumer Chemicals, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, effective from 2013.[16]
The company is a supporter of the Solvay Conferences that were started by Ernest Solvay in 1911.[17]
On December 3, 2015, Solvay launched a share issue sent to existing shareholders, completing funding for the $5.5 billion purchase of Cytec Industries Inc.[18]
On December 8, 2023, shareholders approved the plan to spin off Solvay into two independent, publicly listed companies: Solvay and Syensqo.
The aim of the separation was to provide each company with the independence and flexibility to pursue distinct strategies. The traditional activities, such as soda, hydrogen peroxide and adhesives, will continue under the Solvay name and will be led by Philippe Kehren. The other activities, such as plastics for electronics and rechargeable batteries, have been transferred to a new company called Syensqo (pronounced: science-co).
The products in Syensqo have a higher growth potential, with Ilham Kadri as CEO. Solvay continues with 9,000 employees and a turnover of €5.6 billion per year. Syensqo starts with 13,200 employees and an annual turnover of €7.9 billion. On Monday, December 11, Syensqo shares were listed on the stock exchange and are included in the BEL 20 share index.[19][20]
Lisa Brown : General Counsel and Corporate Secretary.[25][26]
Products
Solvay is a main partner of Solar Impulse and has contributed research and development resources to their solar powered airplane project. That aircraft conducted its first test flight on 3. December 2009, and since then has made solar-powered flights from Switzerland to Spain and Morocco in 2012.[27]
In 2015–2016, Solar Impulse 2 flew around the world, the first such journey by a solar-powered aircraft.[28]
Fuel cell technology
SolviCore, a joint venture by Umicore and Solvay in the field of fuel cells is already pre-marketing membrane-electrode assemblies for different types of fuel cells for portable or mobile use.[29] New generation lithium batteries for hybrid vehicles components make use of Solvay fluorinated polymers in order to reduce carbon dioxide emissions.[30]
Soil remediation
Novosol is a sodium bicarbonate-based process for treating and recovering mineral residues contaminated with heavy metals.[31]
Renewable feedstock
Solvay is working on the development and industrialization of the proprietary Epicerol process for manufacturing epichlorohydrin from natural glycerin.[32]
Legal affairs
Solvay Specialty Polymers USA, LLC is currently under litigation for its per- and polyfluoroalkyl substances (PFAS) contamination of water sources and soil. PFAS, a group of more than 4,000 compounds used in nonstick cookware, stain-resistant fabrics, firefighting foam and a range of other products,[33] do not break down in the environment, and therefore accumulate in the body. They have been linked to cancer, fertility problems, liver damage, high cholesterol, and other health problems.[34][35]
In November 2020, the New Jersey Attorney General announced its filing of two lawsuits "to compel the clean-up of contamination and recover Natural Resource Damages (NRDs)", one of which is against Solvay Specialty Polymers USA, LLC and Arkema Inc., alleging they are "two companies responsible for widespread contamination from toxic per- and polyfluoroalkyl substances (PFAS) emanating from a Gloucester County facility, which has contaminated public drinking water in the region."[36] This is part of an ongoing and growing investigation.[37][38][39][40]
Solvay impeded the availability of an analytical standard by legal maneuver.[41]
