Belgian materials group Solvay SA has announced the sale of its 70.59 percent stake in Brazil-based Solvay Indupa S.A.I.C., the second largest producer of PVC in South America, to Braskem. In a separate announcement, U.S. private finance firm OpenGate Capital LLC said it has signed an exclusivity agreement with Solvay to acquire its Benvic PVC compounding business, which has three manufacturing plants in Europe.
North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.
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