Solvay moves to sell its process materials business to Composites One

Solvay plans to sell its process materials business to Composites One, a composites distributor and services firm. The business makes equipment used to manufacture parts such as carbon fiber–epoxy airplane wings. Composites One has distributed Solvay’s products in this area for 2 years. In its third-quarter earnings report, Solvay said its overall composite materials business has suffered this year, primarily because of weak aerospace and auto demand. The firm says the move, along with separate sales of sodium chlorate and fluorine assets, is part of a push to simplify its portfolio.