Rhodia was a group founded in 1988 that specialized in fine chemistry, synthetic fibers, and polymers.
The company was acquired by the Belgian Solvay group in September 2011 in a deal valued at €3.4 billion.[2] The company served the consumer goods, automotive, energy, manufacturing, and processes and electronics markets, and had 65 production sites worldwide, four research centers, and four joint laboratories.
History
Rhodia was a public company that was founded on January 1, 1998, following the spin-off of the chemicals, fibers, and polymers activities of Rhône-Poulenc when it merged with the German company Hoechst. On June 25, 1998, Rhône-Poulenc sold 32.7% of its share in Rhodia's capital to the public. In 1999, Rhodia made two acquisitions:
From October 1999, Rhône-Poulenc, which became Aventis then Sanofi-Aventis, gradually reduced its stake in Rhodia's capital. It sold all its shares in the company on October 17, 2006.
Rhodia grew in the United Kingdom and the United States by buying out Albright and Wilson and ChiRex. In 2002, Rhodia sold off its basic chemical activities in Europe (phenol, hydrochloric acid, sodium carbonate) and its holdings in Latexia (which was the world's number two for latex for paper) and Teris (treatment of toxic waste). In 2004, Rhodia sold its food ingredients business. On March 31, 2004, Yves-René Nanot was appointed chairman of the board of directors.
In 2006, Rhodia sold its latex business, its synthesis activity, and its facilities for the production of industrial wires and fibers in Europe. 2006 also saw the creation of Orbeo, a joint venture with Société Générale, in the field of origination, trade and sale of carbon credits. Orbeo represents 8% of the carbon market.
In 2007, Rhodia sold its silicones production activity and its Nylstar subsidiary (synthetic textile fiber) and acquired the alumina activity of WR Grace. In 2008, Rhodia sold its fine organic chemicals and pharmaceutical activities. On March 17, 2008, the board of directors appointed Jean-Pierre Clamadieu as the chairman and CEO of Rhodia. This appointment followed the resignation of Yves-René Nanot from his position as the chairman of the board of directors as a result of the statutory conditions applying to age limits.
In 2009, Rhodia acquired two companies: OneCarbon International and the McIntyre Group (specialized surfactants, United States). In 2009, the Belgian chemicals group Solvay launched a friendly public takeover bid for Rhodia.[3] In 2010, Rhodia acquired an 87% stake in the capital of Feixiang Chemicals. On January 1, 2011, Rhodia set up a new organization. Operational activities are now organized in 11 business units, in five sectors of activity: Consumer Chemicals, Advanced Materials, Polyamide Materials, Acetow & Eco Services, and Energy Services. The additional Support Function Group includes corporate activities.
On March 8, 2011, Rhodia announced the finalization of the acquisition of the Suzhou HiPro Polymers guar derivatives production plant in Zhangjiagang, China and on April 13, 2011, Rhodia completed the acquisition of the engineering plastics activity of the Indian company PI Industries Ltd (PIIL), following the approval of the Indian authorities.
In September 2011, Solvay's tender offer on Rhodia was completed and Rhodia became a sector of the Solvay group.
- The Engineering Plastics activity of the top Korean group Hyosung, for Rhodia's Polyamides business unit.
- The Iberica Mix & Fix Center activity of Quimica Dos. The Mix & Fix Center is a unit that formulates and sells ready-to-use hot vulcanizable silicone Elastomers.
Debt from Rhône-Poulenc
After its breakaway from Rhône-Poulenc, Rhodia had to cope with the repercussions of soil pollution and financial liabilities. Prominent figures, such as Thierry Breton and the Swiss banker Édouard Stern, were involved in trying to work out solutions. The group's balance sheet-based structure remained fragile due to negative equity. On December 31, 1999, Rhodia's debt inherited from the split with Rhône-Poulenc amounted to €1,540 million. In an attempt to solve the group's debt problem, management renegotiated a debt estimated at €1 billion in 2010 (Rhodia's lowest debt level since the group was created ). Declared tangible investments in 2009 totaled €167 million, compared with €241 million in 2008.
Commitment to Sustainable Development
In 2003, Rhodia set up a department dedicated to sustainable development.[4] In 2007, it rolled out the "Rhodia Way", the group's reference framework of responsibilities toward stakeholders. Group employees can use this reference system to self-assess the performance of their entity in terms of social and environmental responsibility, to encourage more responsible practices.
Group activities
Consumer Chemicals
Consumer Chemicals is made up of three business units: Novecare, Coatis, and Aroma Performance, which mainly service the consumer markets. In 2010, Consumer Chemicals posted revenues of €1,883 million, representing 36% of the Rhodia Group's revenue.22Breakdown of revenue by market sector in 2010.
- <15% oil and gas,
- >10% agrochemicals,
- about 35% consumer goods,
- about 25% manufacturing and processing,
- about 15% construction and coatings.
Novecare
Novecare supplies high-performance chemicals to industries in the cosmetics, detergents, agrochemicals, coatings, oilfield and industrial applications sectors. The company has 15 production plants worldwide. Novecare acquired the activities of the US company McIntyre, followed by the activities of Feixiang, China's leading producer of amines and surfactants in 2010.
Production sites
Rhodia has 65 production sites worldwide.
Worldwide distribution
Main production sites
Europe
Rhodia has 22 production sites in Europe, including 10 in France. The Rhodia Group is present in Germany (Freiburg), Italy (Ospiate), Poland, the Commonwealth of Independent States (CIS) (Sertow LLC), Spain and the United Kingdom.
La Rochelle
According to ANDRA, the French agency for waste management, until July 1994, Electronics and Catalysis (now Rhodia Rare Earth Systems) used very slightly radioactive monazite as an ore, producing radium-bearing waste, which was initially stored at ANDRA's La Manche center until 1991, then in the French atomic energy commission's Cadarache facility. The treatment of the slightly radioactive monazite produced 8,023 tons (according to ANDRA ) of slightly radioactive solid residue up until 1994. According to ANDRA, in 2007, this residue contained 2,000 tons of uranium and 2.6 tons of toxic lead. The plant is subject to
Awards
In 2023, Rhodia was named the best company in the Chemical and Petrochemical sector in Brazil for the second consecutive year in by Época Negócios 360º. The ranking evaluated 410 companies with revenues of at least R$250 million in 2022. The evaluation considered various sectors and management challenges like innovation, future vision, ESG/environmental, ESG/governance, people, and financial performance. The Dom Cabral Foundation partnered with Época Negócios for the evaluation process. The award ceremony took place on September 25, bringing together CEOs and executives from top companies in Brazil.[6]
Governance
Board of directors
The Rhodia Board of Directors currently has 11 members. The articles of association require that no less than three and no more than 18 members sit on the board. Since 2005, members have been appointed for four years. The regulations of the board of directors stipulate that non-executive members can remain on the board for a maximum of 12 years. Renewals are staggered over two consecutive years.
On November 31, the members of the board of directors were:
General management
On November 31, 2010, the members of the executive committee were:
- Gilles Auffret, chief executive officer
- Pascal Bouchiat, group executive vice-president and chief financial officer
- Pascal Juery, group executive vice-president
- Jean-Pierre Labroue, general counsel and corporate secretary
Previous Rhodia CEOs
Key figures
Rhodia Group data
Breakdown by activity in 2010
External links
References
- Annual Report 2010 Rhodia, retrieved 22 April 2011^
- Aaron Gray-Block. Solvay bids 3.4 bln euros for France's Rhodia Reuters, 4 April 2011, retrieved 4 April 2011^
- History - 2008-2023 Solvay^