Solvay: Ceasing the production of TFA and its fluorinated derivatives
Solvay opens consultation to cease production at Salindres site. The company announced a project to consult with its social partners to cease the production of TFA (Trifluoroacetic Acid) and its fluorinated derivatives at its Salindres site in France.
The envisaged discontinuation of these activities would result in the elimination of 68 positions assigned to the TFA and derivatives production between early 2025 and October 2025.
The plan to cease production is due to the continued negative financial performance of the Salindres plant over the past few years, driven by unfavorable market conditions that are unlikely to improve in the future.
Solvay will record provisions of approximately €50 million in Q3 2024 in relation to this project. The majority of the corresponding cash-out will occur from 2025 onwards. The guidance for 2024 underlying EBITDA and FCF remains unchanged.
Solvay