Solvay to sell its stake in Vinythai to AGC Asahi Glass

 Solvay to sell its stake in Vinythai to AGC Asahi Glass
Photo source
www.solvay.com
Solvay has signed a definitive agreement to sell its 58.77 percent stake in its Thai subsidiary Vinythai PCL to Japanese company AGC Asahi Glass, thereby exiting its Asian polyvinyl chloride activities.

The transaction is based on a total enterprise value of 16.5 billion Thai Baht (€ 435 million), representing a multiple of 8x mid-cycle EBITDA.

Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2017.

This agreement follows Solvay’s earlier sale of the European PVC business and the upcoming completion of the divestment of its Brazilian PVC activities. These transactions represent a significant milestone in the Group’s transformation towards a multi-specialty chemical group,” said Vincent De Cuyper, member of Solvay’s Executive Committee. 

600450 Solvay to sell its stake in Vinythai to AGC Asahi Glass glassonweb.com

See more news about:

Others also read

NSG Group announced today it has selected a location for its new glass production facility in the United States.
The WDMA-Northeast Winter Conference will take place on January 28-29, 2019 in Baltimore, Maryland at the Radisson Inner Harbor Hotel.
Quaker Window Products, Co. announced plans today to expand their current operations to a new location in Eldon, Missouri. This phased plan is also expected to create 300 new full-time jobs for the region.
The website for FenCon19, coming March 6 and 7 to the RBC Convention Centre in Winnipeg, is live with online registration available.
From September 23 to 26, ICG Annual Meeting 2018 and 59th Meeting on the Glass and Photonic Materials were held in Yokohama, Japan.
On September 24th, Peng Shou, president of China National Building Material Co., Ltd. and board chairman of Triumph Technology Group Company, held friendly talks with Takuya Shimamura, president of AGC Inc.(former Asahi Glass Co.), during his visit to Japan for attending the ICG Annual Meeting 2018.

Add new comment