Solvay has announced that it is reviewing plans to separate the company into two independent publicly traded companies. 

EssentialCo would comprise leading mono-technology businesses including Soda Ash, Peroxides, Silica and Coatis, which are its chemicals segment, as well as the Special Chem business. These businesses generated approximately EUR 4.1 billion in net sales in 2021, it said in a statement.  

SpecialtyCo would comprise the company’s currently reported Materials segment, including its high-growth, high-margin Specialty Polymers, its high-performance Composites business, as well as the majority of its Solutions segment, including Novecare, Technology Solutions, Aroma Performance, and Oil & Gas. These businesses combined generated approximately EUR 6 billion in net sales in 2021. 

Ilham Kadri, Chief Executive Officer, Solvay, said, “The plan to separate into two leading companies represents a pivotal moment in our journey to transform and simplify Solvay. Since we first launched our G.R.O.W. strategy in 2019, we have taken a number of actions to strengthen our financial and operational performance, focus our portfolio on higher growth and higher-margin businesses, and reinforce our business purpose across the organisation. We have changed the culture profoundly, with a passion for performance and meritocracy at its core. Our successful focus on cash, costs, and returns has strengthened the Materials and Solutions segments to be more self-sustaining and profitable. At the same time, the Chemicals segment has continued its strong track record of resilient cash generation. Notwithstanding the challenges of the current global environment, we are confident that pursuing this plan would enable us to create compelling value for shareholders over the long-term. 

“Our talented and dedicated employees have worked hard to transform Solvay, and their efforts have enabled us to take this important next step towards the creation of two strong companies. We expect to create opportunities in each company for our employees to thrive and grow, and we are confident that both companies will maintain the same levels of customer focus and commitment to value creation.” 

Meanwhile, Nicolas Boël, Chairman of Solvay Board of Directors, said, "Today's news is an important milestone for Solvay. In the last decade, Solvay has undergone major evolutions and the transformation has accelerated under Ilham’s leadership with a focus on profitable growth and simplifying the company, all while driving innovation and raising the bar in sustainability. This exciting announcement marks the next phase of the transformation. On behalf of the entire Board, we look forward to guiding Solvay’s next chapter of sustainable value creation for shareholders, customers and employees.” 

The company said the separation would establish two strong industry leaders that would benefit from the strategic and financial flexibility to focus on their distinctive business models, market and stakeholder priorities.  

Under the separation plan, Solvay’s shareholders would retain their current shares of Solvay stock, which will continue to be listed on Euronext Brussels and Euronext Paris. The separation would be effected by means of a partial demerger of Solvay whereby the specialty businesses will be spun off to SpecialtyCo. Solvay shareholders at the time of separation would receive shares in SpecialtyCo pro rata to their shareholding in Solvay SA. The shares of each company would be expected to be listed on Euronext Brussels and Euronext Paris. The company expects to structure the separation in a manner that would be tax efficient for a significant majority of shareholders in key jurisdictions. The composition of the Boards and management teams, as well as names for each company, will be provided at a later date, the release added. (TT)  

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Michelin has introduced the MICHELIN Primacy 5 in India, marking a pivotal development for the tyre manufacturer as it represents the first passenger car tyre produced locally by the company. This new premium offering is specifically engineered for sedans and sport utility vehicles, signifying an important progression in Michelin’s operational footprint within the Indian automotive market.

The latest tyre is designed to accommodate the varied powertrains present in the contemporary automotive landscape, serving internal combustion engine vehicles, hybrids and electric vehicles equally. Through the application of sophisticated tread pattern optimisation and next-generation rubber compounds, the Primacy 5 aims to provide a balance of enduring safety, ride comfort, responsive handling and enhanced energy efficiency.

Performance metrics for the new tyre demonstrate substantial advancements in safety and durability. Compared to its direct competitors, the Primacy 5 offers considerably shorter wet braking distances for both new and worn tyres, along with improved dry braking performance. It also provides an eight percent increase in overall mileage over its predecessor, the Primacy 4ST, achieved through the integration of EverTread and EverGrip technologies that sustain grip throughout the tyre’s lifespan. Additionally, the tyre sets a new standard for ride comfort with a nine percent better comfort score than rivals, attributed to a noise-attenuating tread pattern, while also delivering a six and a half percent improvement in energy efficiency.

Having received the Tyre of the Year 2025 accolade at the Tire Technology International Awards, the Primacy 5 is slated for commercial release starting August 2026. Upon launch, it will be accessible to customers through Michelin’s own retail network and a nationwide distribution channel of approximately 800 authorised dealers.

Shantanu Deshpande, Managing Director, Michelin India, said, “India’s premium mobility landscape is evolving rapidly with growing demand for high-performance, safe and sustainable tyre solutions across sedans, SUVs and electric vehicles. The launch of the Made-in-India MICHELIN Primacy 5 marks a significant milestone for Michelin in the country and reflects our commitment to delivering products that are tailored to the needs of Indian consumers. Manufactured in India for Indian drivers, the Primacy 5 has been developed and tested on the vehicles most driven in the country, benchmarked against leading competitors, and validated by an independent testing agency. By combining Michelin’s latest global tyre technologies with local manufacturing expertise, the Primacy 5 is uniquely positioned to meet the evolving expectations of Indian motorists for superior safety, longer tyre life, enhanced comfort, energy efficiency and everyday performance. India continues to be a key growth market for the Michelin Group, and as we expand our retail presence and strengthen our manufacturing and service ecosystem in the country, we remain committed to bringing world-class mobility solutions closer to our customers while contributing to India's manufacturing ambitions.”

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VMI has secured the prestigious EcoVadis Platinum Medal, the highest possible distinction within the internationally recognised sustainability benchmark. This coveted recognition positions the Dutch company within the top one percent of all enterprises evaluated globally, a ranking determined by rigorous analysis of environmental practices, ethical conduct, labour and human rights standards and sustainable procurement policies.

This year’s Platinum accolade represents a significant advancement from the Gold rating VMI earned in 2025, underscoring a dedicated trajectory of enhanced corporate responsibility. The upgraded status highlights the organisation’s persistent drive to elevate its ecological and social governance benchmarks beyond its previous high standards.

The momentum behind this elevated rating stems from several key corporate initiatives launched over the past year. These include the institution of the enterprise-wide ‘We green it together’ programme, designed to empower diverse teams to achieve specific sustainability objectives, alongside the formal adoption of the VMI Sustainability Manifesto, which articulates long-term aspirations. The recent publication of the 2025 Sustainability Report further complements these efforts by transparently detailing the company’s measurable progress against its established targets.

Harm Voortman, President and CEO of VMI Group, said, “Receiving the EcoVadis Platinum Medal is a proud milestone for VMI and we share this medal with all our employees around the world. This recognition reflects the progress we have made in integrating sustainability into every aspect of our business. From designing more sustainable machines together with our customers to working closely with our suppliers, we continue to improve the sustainability of both our products and our operations. While we are proud to have progressed from Silver to Gold and now Platinum, we see this as a milestone in our journey to build a sustainable future.”

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Hankook Tire, the exclusive tyre supplier for the ABB FIA Formula E World Championship, played a central role in the season’s pivotal Japanese double-header. As the official race tyre for all competitors, the company’s iON Race compound was put to the test under extreme and shifting conditions during Rounds 14 and 15 of Season 12 at the 2026 TDK Tokyo E-Prix.

The weekend’s on-track action produced two dramatic winners. CUPRA KIRO’s Dan Ticktum snatched victory in Round 14 with a last-corner overtake on Jake Dennis, while Nick Cassidy completed the podium. The following day, Mahindra Racing’s Nyck de Vries claimed Round 15, finishing ahead of Cassidy and Dennis, who secured second and third respectively. The entire paddock also observed a period of remembrance for the late Cyril Blais.

The 2.575-kilometre temporary circuit, featuring 18 corners and situated around Tokyo Big Sight, hosted its first-ever night races, drastically altering track conditions from practice to competition. Unstable weather compounded the challenge, with a Sunday thunderstorm cancelling Free Practice 3 and leaving a damp, drying surface for Round 15 that demanded constant adaptation in tyre warm-up and strategy.

Throughout the weekend, Hankook’s iON Race tyre demonstrated reliability across the evolving grip levels and temperature swings. Following the Tokyo results, Dennis retains the championship lead with 146 points, narrowly ahead of Mitch Evans and Pascal Wehrlein. The title battle remains fiercely contested and will be resolved at the season-ending Hankook London E-Prix double-header on 15–16 August.

Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “Bringing Formula E night racing to Tokyo for the first time made this a distinctive weekend and one of the more unusual tyre assignments of our season. The contrast between afternoon running and the 20:05 races shaped how teams prepared for both events, and the iON Race managed that transition and the changing weather conditions well, delivering consistent and predictable performance as the circuit cooled through the evening.”

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Tegeta Green Planet recently contributed to the ‘Circular Future’ green camp, an environmental education initiative organised by CENN and funded by the European Union. The camp, which hosted 23 teenagers from the Adjara and Kakheti regions, was designed to deepen ecological understanding, advocate for waste-free systems, and inspire long-term behavioural change among the next generation.

Throughout the week-long gathering, young attendees engaged with forward-thinking methods for minimising refuse, prolonging product life cycles and improving separation and recovery processes. Interactive workshops translated abstract circular economy theories into tangible daily actions, equipping participants with the know-how to conserve materials and shrink their personal environmental toll.

A noteworthy component of the programme occurred on 22 July, when a specialised seminar titled ‘Circular Economy: Waste Reduction and Recycling for Public Health’ was convened. Co-hosted by Tegeta Green Planet, the UNDP and the Waste Management Business Association, the seminar examined the intersection of ecological integrity and human well-being, illustrating how robust recycling systems directly benefit community health outcomes.

Closing the day’s agenda, Tegeta Green Planet’s Director, Shalva Akhvlediani, offered an in-depth look at the Extended Producer Responsibility model currently unfolding in Georgia. He traced the journey of end-of-life vehicle components – from used tyres and spent lubricants to depleted batteries – through collection, transport and reprocessing channels. Akhvlediani also highlighted his organisation’s network of over 350 domestic producers and importers, stressing that youth education remains a cornerstone of their mission. The floor was then opened for a lively exchange, where students posed probing questions, debated local environmental dilemmas and floated their own grassroots suggestions, reinforcing the message that responsible resource use begins with informed individual choices.

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