Solvay to sell its stake in Brazilian PVC compounder Dacarto Benvic
The sale is part of Solvay's plan to exit the PVC market.
As part of its move to exit the PVC market, chemical supplier Solvay SA has agreed to sell its 50 per cent stake in Brazil-based PVC compound processor Dacarto Benvic to its joint venture partner which will become the sole owner of the Brazilian company.
The sale follows Belgium-based 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 in total at offices and facilities in São Paulo and in Bahia state.
The transaction is expected to be completed by the end of 2017.