Varna. Within the next two years chemicals giant Solvay will invest BGN 55 million in its plant in Bulgaria's Devnia for a new distiller, general manager for Bulgaria and CEO Spyros Nomikos informed. The construction of the new distillery will significantly reduce production costs, consume less steam and emit less CO2 in Europe's largest soda ash plant.
The Devnia plant is the biggest of its kind in Europe and is second or third in the world. 90% of its production is exported.
Nomikos revealed that the company is facing a serious challenge from Turkey in the soda ash market. Within 2-3 years, Bulgaria's neighbour will open a new plant which will have twice the capacity of the Devnia plant - 3 million tons per year. In addition, it will produce for roughly 40% lower costss as compared to the plants in Europe, due to a lack of rigorous environmental regulations.
As a result, over the next year, the group will close its plant in Portugal and will reduce the capacity of its factory in Italy.
Solvay Chemicals, a world leading producer of essential chemicals including soda ash, caustic soda, hydrogen peroxide and special chemicals, is also celebrating the 150th anniversary of the founding of the company. the chemicals giant was created by the Belgian scientist and entrepreneur Ernest Solvay in 1863 , when he was only 25 years old. Ever since, the group is one of the oldest multinational companies in the world and is recognized as a world leader in chemical production. Its breakthrough came after finding a new way for the production of soda ash, which continues to be used worldwide after 150 years.
