Belgian chemicals and plastics group Solvay (Brussels; www.solvay.com) has agreed to sell its 50% stake in Brazilian PVC compound processor Dacarto Benvic to its joint venture partners. The sale follows Solvay’s withdrawal from PVC activities in Europe, Asia and Latin America, including the Benvic PVC compound business that was sold in 2014.

Dacarto Benvic is headquartered in Osasco with 450 employees in total at offices and facilities in São Paulo and the state of Bahia. Solvay’s jv partners in the undertaking are Brazilian companies Dupre Empreendimentos e Participações, Tondela Empreendimentos e Participações and WR3C Empreendimentos e Participações.

The divestment is expected to be completed by the end of 2017 and is still subject to anti-trust approvals. Financial details of the transaction were not disclosed.