With majority support among shareholders (+99.53%), Solvay (Brussels, Belgium) has announced the official demerging of Syensqo SA/NV, the company’s new composite materials segment, from Solvay. Syensqo will be a “company of explorers who will usher in breakthroughs that will advance humanity,” Solvay CEO Dr. Ilham Kadri said when separation plans were initially revealed in June 2023.

“This is a historical moment,” Kadri adds. She will be incoming CEO of Syensqo. “This turning point highlights the recognition and success of the in-depth transformation of Solvay in the past 5 years. I want to thank all our shareholders, board members and teams for their trust, and for making this ambitious project come true. I also wish the new Solvay a very bright future. I am now pleased to start a new chapter as CEO of the new specialty company Syensqo to deliver growth through exploring the technologies of tomorrow, with a strong management team and board.”

Syensqo will “benefit from the rich heritage of Solvay,”enabling disruptive technologies in lightweighting, electrification, digitalization, resources efficiency and biomaterials. The company’s ultimate mission is to “strengthen our innovation power to support our customers’ needs and environmental ambitions while delivering growth, and to become carbon neutral by 2040,” Kadri says. Syensqo’s 5-year growth strategy was shared in November.

Syensqo’s listing on Euronext Brussels and Euronext Paris (under ticker SYENS) began on Dec. 11, 2023.