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Solvay Forms Subsidiary to Manage Energy Purchases

1:37 AM MDT | July 23, 2009 | Natasha Alperowicz

Solvay says it has established a new subsidiary, Solvay Energy SA (Brussels), which will negotiate, conclude and manage main contracts for natural gas, coal, coke, fuel, electricity, steam and carbon dioxide emission rights on behalf of the entities of the group. Solvay Energy will also implement an energy hedging strategy in collaboration with the group's business units to protect their business against price volatility. Energy accounted for 10.3% of Solvay's €9.5 billion ($13.5 billion) sales in 2008. "Solvay Energy will be targeting...

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