Solvay expects Saudi peroxide joint venture to restart within months

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- Solvay SOLB.BR expects its peroxide unit in Saudi Arabia to restart within the next few months, CEO Philippe Kehren said in a press call on Thursday, adding that such a timeline would keep the chemicals group within its existing guidance.

Kehren said the unit is located on a larger industrial platform, meaning Solvay does not control the timing of the restart and will follow instructions from the platform operator.

"If this would last longer, it would mean that the conflict is not solved in the next few months, and this will have other impacts that we will need to assess, not only at the scale of the peroxide unit in Saudi Arabia, but at the global scale for the global economy," he added.

Production at the Saudi Hydrogen Peroxide joint venture between Solvay and Sadara Chemical Company, itself a joint venture of Saudi Aramco 2223.SE and Dow DOW.N, has been halted since mid-March.