Solvay And BASF Off-load Businesses

Solvay and BASF separately have exited a number of noncore businesses. Solvay finished placing its polyvinyl chloride activities into Inovyn, a newly formed joint venture with Ineos that has annual sales of more than $3 billion. In three years Solvay will sell its stake in Inovyn to Ineos. BASF also has sold its 25% stake in the PVC maker SolVin to its partner Solvay, which has added it to Inovyn. Meanwhile, Solvay and Umicore have sold SolviCore, a German joint venture producing membrane electrode assemblies, to Japan’s Toray Industries. And BASF has completed the sale of its textile chemicals business to Archroma, a textile chemicals maker owned by the private equity firm SK Capital Partners.