Solvay: Acquisition of Orbeo
Solvay announced today it is acquiring Société Générale’s equity interest in Orbeo, the 50/50 joint venture between the two groups dedicated to the carbon markets. Once this transaction has been completed, Orbeo will become a wholly-owned subsidiary of Rhodia Energy, itself a subsidiary of Solvay. This acquisition illustrates the determination of the Solvay Group to continue Rhodia’s drive to develop its activities in the area of greenhouse gas emission abatement.
Rhodia Energy wants to step up its contribution to the fight against climate change by taking full advantage of the industrial expertise developed by Solvay and Rhodia and by expanding its range of solutions in the area of the integrated management of energy and CO2 emissions. This will enable its customers to enjoy access to innovative, efficient and value-creating solutions aimed at improving their environmental footprint and reducing their energy costs.
Orbeo was created in 2006 by Rhodia (50%) and Société Générale (50%) following the creation of carbon-trading markets in 2005 and the application of the Kyoto Protocol in Europe.
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