Pharmaceuticals Sector - Solvay

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34 Solvay Global Annual Report 2005 In India an agreement was signed with the Gharda group for Solvay to acquire its polymers division. The conclusion of this transaction, expected in 2006, will give access to very high performance polymers like PEEK, and will provide a solid manufacturing basis for a totally new range of polysulfone specialties. Again in India, a new subsidiary, Solvay Specialties India Private Limited, has been set up with a new marketing team to develop sales of the existing range, in particular barrier polymers, fl uorinated materials and engineering polymers. These moves have widened our range of specialty polymers and our geographic coverage, placing us in an even better position to serve growing leading-edge applications in telecommunications, electronics, aerospace, the automotive industry, medical applications and other areas. Major investments were also approved in 2005 for the current product range: – construction of new production units for polyethersulfone (PES, RADEL ® A) and polyphenylene sulfone (PPSU, RADEL ® R) at Marietta, Ohio, USA); – a new fl uoropolymers (MFA/PFA, HYFLON ® ) production line is under construction at Spinetta (Italy), to supply the growing market for highly fl uorinated polymers; – a new polytetrafl uoroethylene (PTFE, ALGOFLON ® ) production facility is also under construction at Spinetta, to support further growth in the specialty PTFE segment. All these investments will become operational in 2006. 2005 was a good year for Specialty Polymers, with a 7% increase in (1) OSHA: Occupational Safety and Health Administration (US). sales. Margins were burdened by signifi cant increases in start-up and raw-material costs prices. Advances were made in a number of areas like safety, product quality and process yields, all of which will strengthen the competitiveness of this activity in the coming years. In this context, the Solvay Advanced Polymers plant at Augusta (Georgia, USA) was awarded STAR status in the OSHA (1) Voluntary Protection Program for its particularly effective safety system. Innovation was centre-stage in 2005. Products introduced within the past 5 years represented 30% of sales, while R&D was strengthened in two ways – by a stricter defi nition of priorities in terms of market needs and by a longer-term approach focusing on R&D programs with a higher fundamental research content. Inergy Automotive Systems (a 50/50 joint venture with Plastic Omnium), the world’s largest supplier of fuel systems to the automotive industry, with 13.3 million fuel tanks and systems delivered from 25 plants across the world, again saw growth in sales volumes (+ 6%) outstrip that of car markets. This performance was due in particular to the investments made in recent years in Eastern Europe and Mercosur in response to demand from Asian car companies. Despite severe pressure on sales prices, margins were maintained until Hurricanes Katrina and Rita devastated the US Gulf Coast, producing supply shortages and sharply increasing the price of high density polyethylene, which is the raw material for manufacturing fuel tanks. Negotiations are under way to pass on these price rises to car manufacturers. Globally, profi ts were down in 2005. Competitiveness-boosting programmes and manufacturing Plastics Sector reorganizations were successfully carried out, with the closing of two plants in France and one in Great Britain. In terms of growth, 2005 also saw the launch of 14 new platforms on fi ve continents for Audi, General Motors, Hyundai, Kia, Porsche, PSA, Renault, Suzuki and Toyota. The year was rich in innovations. These include a proven industrial application for a German car-builder using a new patented “Twin-Sheet Blow Moulding” technology, which enables fuel tanks to be produced to the highest evaporation standards whilst combining the best of extrusion-blow moulding and thermoforming technologies.
Innovation “Twin-Sheet Blow Moulding” technology combines the best of extrusion-blow moulding and thermoforming technologies. “ The Solvay Advanced Polymers plant at Plastics Sector Augusta (Georgia, USA) was awarded STAR status in the OSHA Voluntary Protection Program for its particularly effective safety system.” Plastics 35 Solvay Global Annual Report 2005
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 and 30: Key fi gures [EUR million] Chemical
Page 31 and 32: Growth To speed up its growth, the
Page 33 and 34: Initiatives have also been launched
Page 35 and 36: “ The ‘Soil Remediation Reagent
Page 37: Key fi gures [EUR million] Plastics
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
Page 83 and 84: 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
Page 99 and 100:
List of fully consolidated Group co
Page 101 and 102:
Solvay Salz Holding GmbH, Hannover
Page 103 and 104:
CANADA Fournier Pharma, Inc., Montr
Page 105 and 106:
GREAT BRITAIN Inergy Automotive Sys
Page 107 and 108:
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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