Shareholders overwhelmingly vote to approve Solvay spin-off plan, Syensqo officially announced

Solvay SA/NV’s Extraordinary General Meeting of Shareholders concluded on Friday CET. In the vast majority of shareholders (+99.53%) Syensqo SA/NV has officially split from Solvay Group at midnight Central European Time on Friday, with the support of a vote of 10%.

"This is a historic moment," new Syensqo CEO Ilham Kadri said the doctor. “This turning point highlights the recognition of the results of Solvay’s in-depth transformation over the past five years and the success of the transformation. I would like to thank all shareholders, board members and teams for their trust in making this ambitious project possible. At the same time, I I wish the new Solvay a bright future.

Now, I am excited to start a new journey as CEO of Syensqo, a new specialty materials and chemicals company, working with a strong management team and board of directors to continue to explore tomorrow's technologies and achieve business growth.

Our new company is one of the largest of its kind in the world and will benefit from Solvay's long tradition. As a true technology company, it will inherit the legacy of Solvay Group founder Ernest Solvay. Solvay's innovative spirit serves disruptive technologies in areas such as lightweighting, electrification, digitalization, improved resource efficiency and biomaterials.

Syensqo's vision is to strengthen our innovation capabilities, grow while supporting our customers' needs, meet environmental goals and become carbon neutral by 2040. "

Syensqo will be listed on Euronext Brussels and Euronext Paris at market open on Monday, December 11, 2023, at 9:00 am CET (ticker: "SYENS").

About Syensqo

Syensqo is a technology company developing breakthrough solutions that improve the way we live, work, travel and play. Inspired by the Solvay Conference founded by Ernest Solvay in 1911, we bring together top talent with more than 13,000 employees in 30 countries around the world to push the boundaries of science and innovation to help our customers.

Our solutions enable safer, cleaner and more sustainable products for homes, food and consumer goods, aircraft, automotive, batteries, smart devices and medical applications. We use our outstanding innovation capabilities to empower the ambitious goal of circular economy, explore technological breakthroughs, and promote human progress.