Solvay S.A. (Brussels, Belgium; www.solay.com) has agreed to sell its 50% stake in Dacarto Benvic to its joint venture partner, which will become the sole owner of the Brazilian polyvinyl chloride (PVC) compound processor.
The sale follows Solvay’s withdrawal from PVC activities in Europe, Asia and Latin America, including the Benvic PVC compound business, which was sold in 2014.
The joint venture partner companies are Dupre Empreendimentos e Participações ltda., Tondela Empreendimentos e Participações ltda., and WR3C Empreendimentos e Participações ltda.
Dacarto Benvic is headquartered in Osasco, with 450 employees at offices and facilities in São Paulo and around Bahia state.
The closing of this transaction is expected end 2017 and is subject to customary approvals, including anti-trust.