Solvay S.A. (Brussels, Belgium; www.solvay.com) has sold its Ionquest 290 solvent extraction product line used in mining applications and its octylphosphonic acid (OPA) product lines to Italmatch Chemicals. With this sale Solvay satisfies all remaining obligations set forth by the European Union regarding the approval of its acquisition last year of Cytec Industries.
“We are confident that Italmatch’s expertise and commitment to its customers will ensure that the Ionquest 290 and OPA businesses will continue to thrive and meet the market’s needs,” commented Michael J. Radossich, President, Solvay Technology Solutions global business unit. “Customer satisfaction and a seamless transition have always been our main focus and priority in this process.”
Solvay will continue to invest in and grow its remaining mining solutions portfolio. The sale is expected to close before the end of the quarter pending customary requirements and regulatory review.