Pharmaceuticals Sector - Solvay

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26 Solvay Global Annual Report 2005 The “Minerals” cluster: soda ash and derivatives, barium and strontium carbonates, Advanced Functional Minerals 2005 saw sustained demand worldwide for Soda Ash and associated products. This allowed margins to be restored and maintained, despite rising energy and raw materials costs between 2004 and 2005. For 2006 demand remains buoyant, even if rising energy costs remain cause for concern. The gradual recovery of margins in Europe failed to prevent the closing of the Ebensee (Austria) soda works, the profi tability of which had steadily worsened in recent years owing to its small size and prohibitive logistic costs. In the USA, almost all contracts were renegotiated at higher prices, with an energy surcharge limiting the negative effects of the sharp rise in the cost of natural gas. The project of putting down roots in China, by creating a joint venture with Sinopec subsidiary Nanjung Chemical Industries (NCI) to operate a soda ash plant together and market its production, is actively under way, and may well enter a decisive phase in 2006. Specialty soda ash derivatives, in particular Bicarbonate, continue to grow. In Europe, BICAR ® is expanding further with the launch of a new BICAR ® Plus grade for domestic use and the ongoing development of the original NEUTREC ® fl ue gas cleaning process, now used by over 150 incenerators in Europe, Japan and Korea. This growth has justifi ed building a new 100 kilotonnes/year sodium bicarbonate production unit at Bernburg (Germany), which became operational at the end of 2005. Innovation remains a key word in each of the Strategic Business Units’ fi elds of activity. – The inauguration of a new generation of ‘giant distillation columns’ at the Devnya, Bulgaria, soda ash plant is a further example of our ongoing effort to improve competitiveness in Essentials. – The launch in the USA of an enlarged range of SOLVAIR fl ue-gas cleaning solutions, based in particular on our sodium products portfolio, justifi ed the expansion of our trona production capacities. (Trona is a natural mineral consisting of one sodium carbonate molecule, one sodium bicarbonate molecule and two molecules of water). In Barium and Strontium Carbonates, 2005 saw the formation on November 15 of the joint venture with Chemical Products Corporation (CPC) of Georgia (USA). Synergies, technology cross-fertilization and priority access to raw materials will, beginning in 2006, enable the new entity to better confront the challenges facing technology-oriented products: the relocation of special CRT glass production to Asia and the competition from fl at LCD and plasma screens. Chemicals Sector A perceptible improvement in the market for these products for technical applications has occurred, thanks to measures taken in 2005, including the mothballing of the Onsan unit in Korea. At the same time the success of the anti-dumping campaign against Chinese imports of barium carbonate products into Europe has restored a healthy competitive environment. Parallel with this, work continues on developing new specialities linked to liquid crystal displays (LCDs), plasma (PDP) and organic light-emitting diodes (OLED). Elsewhere, specialty grades of barium sulfate, used mainly in printed circuit inks, are developing well in Japan and on other Asian markets. “ Innovation remains a key word in each of the Strategic Business Units’ fi elds of activity.” Our high purity barium grades, including micronized grades, are continuing to expand. This is an area in which, in just a few years, Solvay has made a name for itself as a preferred supplier to the passive electronic components industry.
Growth To speed up its growth, the Sector created in 2005 a new “Molecular Solutions” SBU, to develop new high-added-value, high know-how product lines. The Advanced Functional Minerals activity has continued to improve the competitiveness of its different production sites in a diffi cult market, and has prepared the conversion of the Ebensee site. It is developing its strategy of focusing on Specialties, by selecting growing and higher-addedvalue markets. To this end it has also intensifi ed its efforts to develop new products, through internal innovation and partnerships with customers. Chemicals Sector 27 Solvay Global Annual Report 2005 Chemicals
Page 1 and 2: Driven by the future Growth, Compet
Page 3 and 4: Highlights January 2005 Solvay fi n
Page 5 and 6: Activities Group sales 2005 = EUR 8
Page 7 and 8: Our Vision - Independent industrial
Page 9 and 10: here to stay, in our view irreversi
Page 11 and 12: Board of Directors and Corporate Go
Page 13 and 14: 4 Executive Committee and General M
Page 15 and 16: Such a strategy is possible only wi
Page 17 and 18: Specialities Solvay Specialties fro
Page 19 and 20: Key fi gures [EUR million] Pharmace
Page 21 and 22: Cardiometabolic Cardiovascular dise
Page 23 and 24: Cardiometabolics Fenofi brate, TRIC
Page 25 and 26: “ DUODOPA® entered Solvay’s pr
Page 27 and 28: Pharmaceuticals Sector Therapeutic
Page 29: Key fi gures [EUR million] Chemical
Page 33 and 34: Initiatives have also been launched
Page 35 and 36: “ The ‘Soil Remediation Reagent
Page 37 and 38: Key fi gures [EUR million] Plastics
Page 39 and 40: Innovation “Twin-Sheet Blow Mould
Page 41 and 42: Plastics 37 Solvay Global Annual Re
Page 43 and 44: which it was able to take advantage
Page 45 and 46: New Business Development Priority t
Page 47 and 48: Meeting The Science Days organized
Page 49 and 50: Human Resources The Group’s fi ve
Page 51 and 52: “ At the end of this seminar, all
Page 53 and 54: Sustainable Development 2005 saw th
Page 55 and 56: Accident frequency rate Persons wor
Page 57 and 58: Management Report New records for S
Page 59 and 60: Expenditure on the future by Sector
Page 61 and 62: Financial Statements The following
Page 63 and 64: Consolidated balance sheet EUR mill
Page 65 and 66: IFRS valuation rules The main accou
Page 67 and 68: 9. Impairment Every year the Group
Page 69 and 70: Notes to the fi nancial statements
Page 71 and 72: (2) Financial data by region These
Page 73 and 74: and the estimated fi nancial conseq
Page 75 and 76: The deferred taxes recorded in the
Page 77 and 78: 2005 Millions EUR Acquisitions Disp
Page 79 and 80: Neopharma On January 19, 2005 the S
Page 81 and 82:
(around 300 persons) with a view to
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In 2005 the impairment tests on goo
Page 85 and 86:
Solvay Group purchased 100% of the
Page 87 and 88:
Post-employment benefi t plans are
Page 89 and 90:
Actuarial assumptions used in deter
Page 91 and 92:
Analysis of total fi nancial debt b
Page 93 and 94:
In this way, at the end of 2005, th
Page 95 and 96:
The following amounts relating to J
Page 97 and 98:
PORTUGAL Fournier Farmaceutica Port
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List of fully consolidated Group co
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Solvay Salz Holding GmbH, Hannover
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CANADA Fournier Pharma, Inc., Montr
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GREAT BRITAIN Inergy Automotive Sys
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Summary fi nancial statements of So
Page 109 and 110:
Statutory auditor’s report to the
Page 111 and 112:
The Solvay share compared with the
Page 113 and 114:
Contacts: The Investor Relations Te
Page 115 and 116:
Shareholders’ Diary - May 9, 2006
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Pharmaceuticals Sector - Solvay

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