Solvay SA (SOLB.BR,SVYSF.PK) Monday said it has agreed to form a worldwide fluorine gas business joint venture with L'Air Liquide SA (AI.PA,AIQUY.PK) in an effort to meet the growing demand for environmentally-friendly cleaning gases.
The venture will build, own and operate modular on-site fluorine cleaning gas units for the flat panel display and silicon thin film photovoltaic industries. Fluorine gas is a cleaning gas that has no global warming potential and enables the customers to increase their productivity, Solvay said.
Solvay will bring in its 45 years of experience in running large-scale fluorine production as well as its raw materials supply chain. Air Liquide will contribute its global presence, infrastructure and industrial gas supply relationships with the leading electronics manufacturers.
Vincent De Cuyper, Group General Manager of the Chemicals Sector and Member of the Executive Committee of Solvay, said, "The combination of market experience and know how from Air Liquide" and "Solvay's proprietary breakthrough modular technology, will enable our partnership to offer significant economic benefits to its customers and bring at the same time advantages for the environment."
Solvay is falling 2.29 percent in Brussels to 67.32 euros on 54,794 shares.
Air Liquide is sliding 0.52 pecrent in Paris to 97.42 euros on a volume of 241,432 shares.
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