The end of last year marked a turning point in Solvay’s journey as the specialty chemicals company’s shareholders agreed to the separation of Solvay into two independent companies.
According to Nicolas Boël, Chairman of the Board, “in a world of perpetual change, the status quo is never an option. As the G.R.O.W strategy delivered on its targets ahead of schedule, the Board took the bold step to initiate the next stage of Solvay’s transformation in its 160-year journey. The creation of two independent companies will unlock further value to our stakeholders. It will sharpen our strategic focus, bring new growth opportunities, allow us to allocate capital more efficiently, and build even stronger foundations for the future.”
While the new Solvay will focus on products and services that aims to advance decarbonization and social responsibility, the other independent company – Syensqo – will focus on two main areas of activity: Materials, serving mainly the automotive and aerospace sectors, as well as Consumer & Resources, focused on manufacturing solutions for a range of applications including home, personal care, and agriculture.
Syensqo’s materials division therefore includes the well-known medical-grade filaments as well as a range of industrial 3D printing filaments. Solvay has been quite quiet about its AM activities during the past three years. Given its absence at major trade shows during the past two years, we were questioning already the continuity of its business in the AM industry.
Hopefully, with the development of Syensqo, we will witness more traction from the company in the AM industry.
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