Brief: Solvay Announces PVDF Capacity Investment In Europe For Growing Battery Demand

Solvac SA

01/02/2022 17:24

Feb 1 (Reuters) - Solvac SA  SOAC.BR :
    * ANNOUNCES PVDF CAPACITY INVESTMENT IN EUROPE TO MEET
GROWING EV
BATTERY DEMAND
    * EUR 300 MILLION INVESTMENT SUPPORTS A FULLY INTEGRATED AND
DIGITALIZED PVDF OPERATION AND WILL INCREASE CAPACITY AT
SOLVAY'S SITE IN TAVAUX, FRANCE TO 35 KILOTONS - MAKING IT
LARGEST PVDF PRODUCTION SITE IN EUROPE
    * THIS INVESTMENT WILL BE COMPLETED BY DECEMBER 2023 AND
REINFORCES SOLVAY'S GLOBAL LEADERSHIP IN THIS FIELD
    * EXPECTS TO GROW ITS MATERIALS BUSINESS SALES TO AUTOMOTIVE
MARKET FROM APPROXIMATELY EUR 800 MILLION IN 2021 TO MORE THAN
EUR 2.5 BILLION BY 2030
    * EXPECTS TO GROW ITS MATERIALS BUSINESS SALES TO THE
AUTOMOTIVE
MARKET FROM APPROXIMATELY €800 MILLION IN 2021 TO MORE THAN €2.5
BILLION BY 2030

Source text for Eikon:  ID:nGNE64xVgs 
Further company coverage:  SOAC.BR 

 (Reporting by Alizee Degorce)
 ((Alizee.Degorce@thomsonreuters.com;))