Syensqo: upbeat after restructuring plans announced

(CercleFinance.com) - Syensqo shares are up over 6% in Brussels after the specialty chemicals group announced its intention to adapt its organisation to better meet the evolving needs of its customers and focus on projects that will accelerate its growth.


Following its spin-off from Solvay at the end of 2023, it has undertaken a comprehensive review of its structure and projects, in order to focus on growth opportunities and improve the return profile, in line with its medium-term financial objectives.

As a result, the Belgian group says it is opening consultation processes, which include a proposed reduction of around 300 to 350 positions, mainly in France, the US, Belgium and Italy.

In addition, Syensqo is advancing other initiatives to support its growth strategy, including the development of a world-class digital infrastructure to bring new levels of efficiency and agility to all its operations.


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