-
Profound transformation through portfolio upgrade, excellence and synergies to continue, while benefiting planet, society and people
-
Targets integrate sustainability and financial objectives to create long-term value
Brussels, September 29, 2016 --- Solvay at its Capital Markets Day in London updates its strategic transformation, reaffirms its financial guidance for 2016 and unveils medium-term value objectives that will accelerate its drive to create sustainable and long-term value as a multi-specialty chemical company.
Senior executives will discuss with investors and analysts market developments and Solvay`s leading positions and innovative solutions. Presentations cover growth opportunities in Advanced Materials for sustainable mobility, including batteries for electric vehicles and composites in aircraft and cars. They also cover the unique capabilities of Advanced Formulations in surface chemistry and fluid behaviors, which focus on yield and efficiency optimization while reducing environmental footprint.
"Solvay`s profound transformation over the past three years demonstrates we are well on track in making the Group more global, resilient, sustainable and innovative. Our client base has changed very significantly in past years and we are becoming more and more a strategic partner with mission critical solutions which are key parts of our customer leading programs," said Jean-Pierre Clamadieu, Chief Executive Officer of Solvay. "The transformation towards a multi-specialty chemical company will continue. Our new mid-term targets encompass sustainability as well as financial delivery, to create value that stands the test of time."
Solvay has further bolstered its position in Advanced Materials through several contract awards, high profile qualifications and capacity expansions to serve industry`s leading companies. Its recognized technology leadership and application expertise allow Solvay to develop sustainable solutions with strategic customers such as Airbus, Boeing and Safran, to name but a few. Solvay has shown its commitment to sustainable solutions with a recent agreement to only use renewable energy by 2018 for all products it supplies to Apple.
Today`s event provides the opportunity to highlight the strong progress on the Cytec integration. Delivery exceeds expectations and the acquisition will be cash acretive in 2016, one year ahead of plan. Given the progress, synergy expectations are increased by 50% to € 150 million by 2018.
The Group`s new objectives for the three-years to 2018, encompass both sustainability and financial targets.