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Solvay: sells a factory in South Carolina.

(CercleFinance.com) - Solvay has announced that it has agreed to sell its phosphorus derivatives business manufactured at its US plant in Charleston, South Carolina, with the associated plant, transferring the relevant personnel to the German group Lanxess.

This divestment will focus Solvay's resources on its existing leading positions in phosphine, phosphine derivatives and phosphorus specialties, said Michael Radossich, head of the global business unit technology solutions.

The divested business generates approximately 65 million euros. The closing of this transaction is subject to normal closing conditions, including the go-ahead from competition authorities, which is expected in the first half of 2018.

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