Toward a new horizon

On September 24 Solvay announced the detail of a new organization project called Horizon which is part of the Group's plan to become a global leader in sustainable chemistry. To lay the foundations of a new company after the sale of the pharmaceuticals activities and before the reinvesting the proceeds of this sale, the executive committee proposes a new business structure that should leverage the strengths of the current one. The project includes creating two global business units (GBU) for specialty polymers and special chemicals, respectively headquartered in Bollate (Italy) and Seoul (Korea). The plan has a potential effect on the group's internal and external spending. More specifically, it will lead to about 800 redundant positions worldwide, decreasing annual costs by approximately 65 million euro.