Belgian chemicals group Solvay SA is planning to sell its nylon business and has given investment bank Goldman Sachs a mandate to find a buyer, according to reports.
According to Belgian business daily De Tijd, a number of financial or industrial players could be buyers.
Brussels-based Solvay has steadily shifted from a base chemical and plastics company to one making speciality materials used by the oil and gas sector or in cosmetics and high-performance polymers.
However the firm declined to confirm the potential sale.
Solvay spokeswoman Caroline Jacobs told PRW: “The only thing we can say is that Solvay never comments on market rumors.” PRW is a sister publication of Plastics News.
Solvay will target business opportunities in advanced lightweighting materials for the aerospace and automotive industries and in specialty chemicals for mining, following its acquisition of Cytec in December.