Solvay has agreed to sell its Germany-based refrigerant business and pharma propellants to Daikin (Osaka). The move forms part of a shift of focus at Solvay's special chemicals global business unit toward selective, high-value-added segments in fluorine specialties and high-purity chemicals. The business unit will divest all of the operations at its Frankfurt site, exiting the worldwide refrigerants business. The operations reported sales of ?53.0 million ($60.4 million) in 2013. About 75 employees will be transferred to Daikin. The transaction is subject to customary closing conditions, including regulatory clearance in Germany and Austria.
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