Solvay’s move comes after some years of shifting among major plastics suppliers and chemical companies towards greater footing in pharmaceuticals and less exposure to chemicals and plastics. Solvay’s divestment is expected to be closed in the first quarter of 2010, pending the approval by the relevant competition authorities. After closing, the supplier says it will reinvest the proceeds in organic and “sizeable external growth.” This also will include expansion of the company’s activities in Asia and Latin America.

Solvay’s plastics division is a major supplier of PVC and currently also supplies aromatic polyamide, fluoroelastomers and fluoropolymers, liquid crystal polymer, and high-heat materials such as PEEK and PAI, as well as others. The company’s plastics investments of the last few years have been in PEEK and other high-end materials as it has sought to limit its exposure to more cyclical demand cycles such as those associated with PVC. —[email protected]