“The divestment represents a strong strategic fit for both Solvay and ELANTAS,” commented Michael J. Radossich, President, Solvay Technology Solutions. “This transaction enables Technology Solutions to further extend our leadership position in our core polymer additives business. In ALTANA, the Formulated Resins business has a strategic buyer to position it for continued growth.”
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.