Solvay announces that its Extraordinary General Meeting (EGM) has approved the demerger of the group into two independent companies, the new Solvay and Syensqo, an operation now confirmed and which will be effective at midnight.

It will enable us to refine our strategic direction, offer new growth opportunities, allocate capital more efficiently and lay an even stronger foundation for the future", comments Solvay Chairman Nicolas Boël.

As a reminder, the proposed demerger of the Belgian chemicals group was unveiled 18 months ago. The company retaining the Solvay name will specialize in essential chemicals, while Syensqo will focus on specialty chemicals.

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