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Solvay to Acquire Stake in Soda Ash Plant in China
12:24 AM MDT | June 8, 2011 | Deepti Ramesh
Solvay says it has signed an agreement with soda ash producer Tianjin Soda Ash Plant (Tianjin, China), under which Solvay will invest €16 million ($23 million) in two phases to acquire a 30% participation in the soda ash plant built at Bin Hai, near Tianjin. Solvay will also provide guarantees on loans, bringing the total committed and invested amount to nearly €60 million, Solvay says. The investment will provide direct access to the very large Chinese soda ash market, Solvay says. The Bin Hai plant, which has a production capacity of 800,000 m.t./year...
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