TOPIC 11. “Presentation of “SOLVAY” group”.

SOLVAY is an international chemical and pharmaceutical group with headquarters in Brussels. It employs more than 30,000 people in 50 countries. In 2002 its consolidated sales amounted to EUR 7.9 billion generated by its four sectors of activity: Chemicals, Pharmaceuticals, Plastics and Processing. Solvay is listed on the Euronext 100 index of top European companies.

The Group's activities are organised in four Sectors:

• Pharmaceuticals

• Chemicals

• Plastics

• Processing

divided up in 17 Strategic Business Units. The Sectors and SBUs are the core of our activities.

Each Strategic Business Unit is responsible for the bottom line and includes not only the management but also the research specific to a given product line, as well as manufacturing, logistics and the commercial teams. All together, the Sectors and the Strategic Business Units contain around 93% of all Group employees.

Four sectors of activities

It has always been the policy of the Solvay Group to focus its efforts on product sectors where it has experience and know-how. The diversity of Solvay's activities is the result of systematic development of the by-products of each manufacturing process. This diversification centers on four sectors of activity, governed by a single industrial and commercial strategy.

Millions of EUR	Sales	EBIT
SECTORS			2001	2002	2002 / 2001 D%	2001	2002	2002 / 2001 D%
Pharmaceuticals			1,769	1,863	+5%	203	230	+13%
Chemicals	2,751	2,636	-4%	286	235	-18%
Plastics	2,624 (1)	1,940	-26%	70 (1)	234	+234%
Processing	1,581	1,479	-6%	68	73	+7%
GROUP	8,725	7,918	-9%	628	772	+23%

Our Mission

Building on our scientific, technical and commercial expertise, we responsibly provide innovative products and services related to chemistry and human health to create ever-increasing value to our customers, shareholders and employees.

Our Vision

Solvay is an independent and ethical global industrial group with a balanced portfolio of sustainable profitable and growing businesses under careful environmental management:

• Amongst the world leaders in selected markets and products, either alone or with sound complementary business partners

• Valued by its customers as a highly competent, reliable and competitive solution provider

• With a clear, motivating organization, developing and empowering people and teams through rewarding and challenging jobs

• Acting as a good corporate citizen, caring for the health, safety and environment of its employees and of the community at large.

Our Values

Of the five values selected by the Group, three relate to Human Resources: respect for people, empowerment and teamwork. The two others, often ranked first by personnel, relate to concern for customers and ethical behaviour in business.

We firmly believe in:

• Customer care Constant enhancement of the quality and added value of our products and services through ongoing and cost effective innovation.

• Ethical behaviour A long-standing tradition of ethical behaviour based on principles of Honesty, Integrity and Trustworthiness.

• Respect for people Encouragement to exercise creativity and leadership, giving opportunities for every individual to develop his/her full potential.

• Empowerment Fostering a culture that encourages delegation, risk taking, speed of response, accountability and partnership in order to adapt effectively to an uncertain and rapidly changing world.

• Teamwork Developing a learning organisation by building teamwork with open communications across our organisation, sharing knowledge, technologies and best practices.

Strategic vision

To enable the Group to adapt to today's rapidly changing world and to grow faster, our strategy for change is twofold: strengthening of our leadership in all our activities, by constantly developing their competitiveness and ability to innovate faster development of Pharmaceuticals and Specialties in the three other Sectors, Chemicals, Plastics and Processing. This strategy is also helping to reduce the cyclicality of our activities.

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