Solvay America Inc. and Dyneon LLC entered into a binding letter of intent for the sale of Solvay Fluoropolymers to Dyneon in August. The agreement is subject to final regulatory approvals. Dyneon LLC is a wholly-owned subsidiary of 3M.
The pending sale reflects Dyneon’s plan to grow its fluropolymers business, according to company executives. Solvay Fluoropolymers sells polyvinylidene fluoride (PVDF) homopolymers and copolymers and has manufacturing facilities in Decatur, AL. The facilities include a 50% interest in Alventia LLC, a joint venture with Dyneon.