Solvay Signs Polymer Deal

Solvay and Shanghai 3F New Materials have agreed to form a fluorinated monomer and polymers joint venture in Changshu, China, to serve the fast-growing Asian market. Solvay will own 20% of the venture, to which it will make a cash contribution and license its polytetrafluoroethylene technology. Shanghai 3F will own 80% of the venture and operate its production plant, which is scheduled to start up in 2014. In addition, the two also penned an agreement under which Shanghai 3F will supply Solvay with raw materials to make a mix of fluoropolymers for lithium-ion batteries, water purification membranes, and other uses in Changshu.