September 24 (SeeNews) - Belgium-based soda ash maker Solvay said on Tuesday that it will invest 185 million euro ($203.3 million) over the next three years in expanding the capacity of two of its facilities - one in Bulgaria and one in the U.S.
"Soda ash and bicarbonate are highly cash generative and resilient businesses for Solvay. Against a backdrop of growing global demand, these investments will deliver resilient cash and strong returns," Christophe Clemente, president of Solvay’s global business unit soda ash and derivatives, said in a statement.
Solvay is planning to expand the sodium bicarbonate capacity of its plant in the Bulgarian town of Devnya by 200 kilotonnes. Solvay also intends to increase its soda ash production capacity by 600 kilotonnes at its trona-based Green River site in Wyoming.
The new production line at the Bulgarian plant is expected to be operational by the end of 2020. It will produce SOLVAIR sorbents, sodium-based solutions that treat exhaust gases from factories, incineration plants and ships and BicarZ, sodium bicarbonate buffer for animal nutrition.
Solvay's Bulgarian unit - Solvay Sodi, booked a consolidated net profit of 127.8 million levs in 2018 and generated revenue of 448.7 million levs.
($ = 0.9099 euro)