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Solvay plans sale of polyamide division
Updated: 2016-01-13 09:39 Source: Market Report Company share:

Belgian chemicals group Solvay is planning to sell its polyamide business and has given investment bank Goldman Sachs a mandate to find a buyer, said PRW, citing reports.

According to Belgian business daily De Tijd, a number of financial or industrial players could be buyers.

Polyamides, which can take the form of nylon, are used in textiles, carpets, clothing and car seats. Solvay declined to comment on the article, which cited multiple unidentified sources.

Solvay has steadily shifted from a base chemical and plastics company to one making speciality materials used by the oil and gas sector or in cosmetics and high-performance polymers.

However the firm declined to confirm the potential sale.

Solvay spokeswoman Caroline Jacobs told PRW: "The only thing we can say is that Solvay never comments on market rumours."

Solvay will target business opportunities in advanced lightweighting materials for the aerospace and automotive industries and in speciality chemicals for mining, following its acquisition of Cytec in December.

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