Solvay Buys Egyptian Soda Ash Producer, Will Expand Capacity

Solvay says it has entered into a final agreement to buy Alexandria Sodium Carbonate Co. (ASCC; Cairo), a soda ash producer, from state-owned Holding Company for Chemical Industries (Cairo). Solvay says it emerged as the preferred bidder following a final auction, which the Egyptian authorities held on March 27, 2008. Solvay's bid values ASCC at E£760 million ($135 million). ASCC is Egypt's only producer of soda ash, serving primarily the domestic market. It also makes quicklime. Its soda ash plant is at Alexandria and is designed to produce...

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