How it started
History
In 2022, Solvay announced the intention to separate into two independent stock listed companies: Solvay and Syensqo.
Solvay would retain its historic soda ash, Peroxides, Silica, and Coatis production, as well as the Specialty Chemicals division. The Materials, Composites, and Solutions divisions were split off into Syensqo. The goal of separating the two companies was to give independence and flexibility in pursuing different strategies.
The name Syensqo is explained as follows: SY represents the first and last letters in Solvay. EN is a nod to Solvay’s founder, Ernest Solvay. SYENS refers to Solvay’s scientific heritage, which goes back to 1911, when Ernest Solvay brought 24 scientists together for the first Solvay Conference. Q refers to quantum physics, which was discussed at the conference. QO is for company.
On Friday, December 8, 2023, shareholders approved the plan to split Solvay into two separate entities. As a result, Ilham Kadri, former CEO of Solvay, became the CEO of Syensqo, whereas Philippe Kehren became the CEO of Solvay.
The split became effective on December 11th, 2023, with shares listed on Euronext Brussels and Euronext Paris. On September 16, 2024 Syensqo announced its intention to delist from Euronext Paris.
From Wikipedia’s article on SYENSQO, shared under CC BY-SA 4.0.2