Solvay announces the completion of the sale of its 50% stake in the RusVinyl joint venture to its joint venture partner Sibur. Upon completion, the divestment will represent another important milestone in the transformation of Solvay’s portfolio, and will mark the final step in the Company’s strategy to exit its cyclical global polyvinyl chloride (PVC) operations. At the time of closing, Solvay received €433 million in cash proceeds in Belgium which will be reported in the first quarter as cash flow from investing activities (Consolidated statement of cash flows). A capital loss of €174 million will be recognized in the first quarter of 2023, mainly reflecting the crystallization of historic currency translation balances. Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

The merits of plastic are well known: it is versatile, durable, cheap, light, and strong. However, its impact on the environment is also evident in our oceans, our landfills, and our atmosphere. So what if plastic — long chains of carbon built from small building blocks repeated over and over again — could be reused as a raw material… over and over again? That is exactly what advanced chemical recycling, such as our PureStep™ solution, offers: the chance to reuse mixed waste plastic as feedstock for steam crackers. The plastic is converted via a liquefaction process (pyrolysis or hydrothermal liquefaction) to an oil. This oil is then purified before it can be used as feedstock for a new, circular plastic product. In doing so, the polymers and plastics industry can supplement existing mechanical recycling processes to turn waste into a valuable product. In addition, it is possible to create medical and food grade plastics. Which is fantastic news, but what are ...