Application for Approval of Proposed Divestiture

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Application for approval of proposed divestiture:

The Commission has received an application from Solvay S.A. (Solvay) for FTC approval of a proposed divestiture to Dyneon LLC. The divestiture is required by a consent order issued by the Commission to resolve competitive issues raised by Solvay’s acquisition of Ausimont S.p.A. from Italenergia S.p.A. Under the terms of the consent order, which became final on July 9, 2002, Solvay is required to divest its Fluropolymers Business and the Solvay VF2 (vinylidene) Joint Venture Businesses (as those terms are defined in the order). Dyneon LLC, a Delaware company, is a wholly owned subsidiary of 3M Company. Through this application, Solvay has requested Commission approval of this proposed transaction.

The FTC is accepting public comments on the proposed divestiture for 30 days, until December 25, 2002, after which the Commission will decide whether to approve it. Comments should be sent to Federal Trade Commission, Office of the Secretary, 600 Pennsylvania, N.W., Washington, DC 20580. (FTC File No. 021-0067, Docket No. C-4046; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press release dated May 2, 2002.)

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