BRUSSELS, Belgium – September 12, 2008 – Solvay Solexis, a fully owned subsidiary of Solvay, announces today the acquisition of Ajedium Film Group LLC, a specialty manufacturing company focused in high performance films and thin-gauge extruded sheet products, located in Newark, Delaware, USA.
Ajedium developed a broad array of technologies for the conversion of high performance resins into high value films.
Adding film application knowledge to its already strong Specialty Polymers portfolio will contribute to consolidate the leading role of Solvay in the high performance polymer market by serving further the growing needs of customers.
“Ajedium brings expertise in high performance film manufacturing, state-of-the-art technology, and high level competences and all will nicely complement our strong polymer background,” says Pierre Joris, CEO of Solvay Solexis. “This will help to further adjust our resins and compounds for high quality films, improving our capability to serve the growing requirements of film producers. Our market intelligence shows that Films are one of the strongest growing applications for our resins,” he adds.
Rick Giacco, one of the former owners of Ajedium, remarks: “Thanks to Solvay’s worldwide presence and strong dedication to innovation, we are confident this activity will be better positioned for further growth. It will remain focused on specialty and custom applications, and increase its presence in the global market.”
Ajedium Film Group will operationally be integrated into Solvay Solexis, Inc having its headquarters close-by in West Deptford, New Jersey, USA.
SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs more than 28,000 people in 50 countries. In 2007, its consolidated sales amounted to EUR 9.6 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. Solvay is listed on the NYSE Euronext stock exchange in Brussels (NYSE Euronext: SOLB.BE – Bloomberg: SOLB.BB – Reuters: SOLBt.BR). Details are available atwww.solvay.com. For information on Solvay’s Plastics Sector, visitwww.solvayplastics.com.
AJEDIUM FILM GROUP
Ajedium Film Group, headquartered in Newark, Delaware, USA, was formed to develop the full market potential, and accelerate the growth, of high-performance thermoplastic film and thin-gauge extruded sheet products. For more information, contact Ajedium Film Group at +1-302-452-6609 or visit their website atwww.ajedium.com.
