Solvay has acquired the Polymers Division of Gharda Chemicals in India by signing a binding Sale & Purchase agreement for the acquisition. The transaction is subject to certain conditions including approval from the relevant authorities. The Polymers Division of Gharda Chemicals operates a state-of-the-art R&D center and production plant in Panoli, Gujarat State, with about 180 employees including a large number of highly educated specialists (chemists, engineers, polymer engineers and PhDs) with revenues slightly over US$10 mln.
The acquisition will provide Solvay with its first industrial base in India and a new global platform for the development, manufacturing, and marketing of a new range of specialty grades of ultra-high performance polymers such as polyether ketones (PEEK), high performance sulfones, and related monomers.
Solvay plans to combine the acquisition into its Solvay Advanced Polymers LLC operating unit headquartered in Alpharetta, Georgia and intends to invest in this strategic location to develop it into a global center for the development and production of specialty polymers and other innovative materials. As a first step in this direction, Solvay will make investments to expand PEEK production at the Panoli site as part of a broader plan to establish a strong market position for Solvay in this ultra-high performance polymer.
Solvay is an international chemicals and pharmaceuticals group, headquartered in Brussels, with presence in more than 50 countries. Including the recently acquired company Fournier Pharma, its 2004 sales amounted to EUR 8.5 billion. Solvay is listed on the Euronext 100 index of top European companies.
19-Dec-05 
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