Solvay to End Production at Salindres Site
- 68 positions to be cut by late 2025
- Provisions of €50M to be recorded in Q3 2024
- Cash-out to start in 2025
- Production of TFA and derivatives to cease due to financial losses
Project Announcement
Solvay has announced a project to consult with its social partners regarding the cessation of TFA and its fluorinated derivatives production at its Salindres site in France.
Job Impact
The proposed discontinuation of these activities will result in the elimination of 68 positions dedicated to TFA and derivatives production between early 2025 and October 2025.
Financial Performance
The decision to cease production is driven by the continued negative financial performance of the Salindres plant over recent years, influenced by unfavorable market conditions that are not expected to improve.
Financial Provisions
Solvay will record provisions of approximately €50 million in Q3 2024 related to this project. The majority of the corresponding cash-out will occur from 2025 onwards. Despite this, the guidance for 2024 underlying EBITDA and FCF remains unchanged.