The divestment includes the formulated resins product portfolio, the manufacturing and R&D facility based in Olean, New York USA, and all associated technical, commercial and administrative staff.
The formulated resins portfolio mainly entails the Conap brand epoxy resin and polyurethane product systems and serves electronics, electrical and specialty adhesives markets. Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2017.
Solvay Technology Solutions is a global business unit of the Solvay Group and is comprised of mining solutions, phosphorus specialties and additive technologies business lines. The GBU innovates, manufactures and delivers sustainable solutions to its customers in the mining, agriculture, agrochemicals, automotive, electronics and industrial markets, among others.