In a latest development in the European chemical industry the Belgium based chemical manufacturer, Solvay is all set to acquire Alexandria Sodium Carbonate Company (ASCC) from Holding Company for Chemical Industries (HCCI). The move is being viewed as part of company's geographical expansion strategy to meet the global demand of its products and chemicals. While on the one hand the company has thanks various stakeholders in helping them get the deal materialized on the other hand the move is being appreciated and applauded by industry professionals and experts.
With its latest press release the company has reiterated that the move will help the company address the ever-growing needs of Egyptian consumers and to support the projects of its customers in the competitive chemical market. The news received wide recognition after the company announced it is entering into a long-term deal with Alexandria Sodium Carbonate Company (ASCC that will allow the company acquires 100% stake in the latter. According to various news, that appears in the sector Solvay was the company that was chosen after various screening and filtering. It was the company that emerged as the preferred bidder as a result of the final auction which the Egyptian authorities organized on March 27, 2008 - valuing ASCC at 760 million Egypt pounds (EUR 100 million).
It is important to underline here that Alexandria Sodium Carbonate Company which is being acquired by the Solvay in involved in the production, manufacturing and distribution of quicklime and Sodium carbonate across the globe. The mentioned company is among one of those companies that produces quality Sodium carbonate to fulfill the requirements of domestic market. The facility was established in the city of Alexandria in the year of 1974 and was thoroughly overhauled and modernized at the end of the 1990s and currently has a nameplate production capacity of 130,000 metric tons of soda ash.
While talking to industry experts and professionals, Christian Jourquin, CEO of the Solvay group says €Solvay welcomes this opportunity to become an industrial operator in Egypt, at the heart of a new market with exciting growth prospects,€
Moving on the same line Vincent De Cuyper, General Manager of the Chemicals Sector says €As it does in all countries where it operates, Solvay will endeavor to develop its Egyptian activities in a sustainable and responsible manner, so as to deserve the confidence of its clients and suppliers, its personnel and the Egyptian authorities,€
About Solvay:
The journey of Solvay Group started in the year of 1861 when an entrepreneur and chemistry knower discovered the key to the industrial manufacture of soda ash using sea salt, ammoniac and carbonic acid. Viewing the revolutionary impact of the formula the technology was patented by him in the year of 1863. The method and technology is being widely used across the globe for glass, washing powder and flue gas cleaning. In the year of 1865 first soda factory was established in Belgium and since then the company has been offering quality products to clients and various stakeholders.
With its latest press release the company has reiterated that the move will help the company address the ever-growing needs of Egyptian consumers and to support the projects of its customers in the competitive chemical market. The news received wide recognition after the company announced it is entering into a long-term deal with Alexandria Sodium Carbonate Company (ASCC that will allow the company acquires 100% stake in the latter. According to various news, that appears in the sector Solvay was the company that was chosen after various screening and filtering. It was the company that emerged as the preferred bidder as a result of the final auction which the Egyptian authorities organized on March 27, 2008 - valuing ASCC at 760 million Egypt pounds (EUR 100 million).
It is important to underline here that Alexandria Sodium Carbonate Company which is being acquired by the Solvay in involved in the production, manufacturing and distribution of quicklime and Sodium carbonate across the globe. The mentioned company is among one of those companies that produces quality Sodium carbonate to fulfill the requirements of domestic market. The facility was established in the city of Alexandria in the year of 1974 and was thoroughly overhauled and modernized at the end of the 1990s and currently has a nameplate production capacity of 130,000 metric tons of soda ash.
While talking to industry experts and professionals, Christian Jourquin, CEO of the Solvay group says €Solvay welcomes this opportunity to become an industrial operator in Egypt, at the heart of a new market with exciting growth prospects,€
Moving on the same line Vincent De Cuyper, General Manager of the Chemicals Sector says €As it does in all countries where it operates, Solvay will endeavor to develop its Egyptian activities in a sustainable and responsible manner, so as to deserve the confidence of its clients and suppliers, its personnel and the Egyptian authorities,€
About Solvay:
The journey of Solvay Group started in the year of 1861 when an entrepreneur and chemistry knower discovered the key to the industrial manufacture of soda ash using sea salt, ammoniac and carbonic acid. Viewing the revolutionary impact of the formula the technology was patented by him in the year of 1863. The method and technology is being widely used across the globe for glass, washing powder and flue gas cleaning. In the year of 1865 first soda factory was established in Belgium and since then the company has been offering quality products to clients and various stakeholders.
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