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AGLOBAL / COUNTRY STUDY AND REPORT

ONSwot analysis & Pestel analysis of

Solvay CompanySubmitted to

(Chaudhari Technical Institute)IN PARTIAL FULFILLMENT OF THE

REQUIREMENT OF THE AWARD FOR THE DEGREE OFMASTER OF BUSINESS ASMINISTRATION

In

Gujarat Technological UniversityUNDER THE GUIDANCE OF

Ms. Bhumika Raval, (Ass. Professor)Mr. Suresh Patel, (Ass. Professor)

Submitted byBatch: 2010-12

Sonali Patel (Enrollment No107080592016)

Ankita Sathvara (Enrollment No. 107080592022)

Krupa Shah (Enrollment No.107080592024)

Dipika Kapdia (Enrollment No.107080592030)

Harsha Patel (Enrollment No. 107080592040)

Jalpa Patel (Enrollment No. 107080592055)

MBA SEMESTER III/IV(Chaudhari Technical Institute)

MBA PROGRAMMEAffiliated to Gujarat Technological University

Ahmedabad, November 2011

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Students Declaration

We,students of Chaudhari Technical Institute herebydeclare that the report for Global/ Country Study Report

entitledImport Export strategy in Solvay Company (Belgium)is a result of our own work and our indebtedness to

other work publications, references, if any, have beenduly acknowledged.

Place: ..Date:

Name of Student

Sonali Patel (Enrollment No107080592016)

Ankita Sathvara (Enrollment No. 107080592022)

Krupa Shah (Enrollment No.107080592024)

Dipika Kapdia (Enrollment No.107080592030)

Harsha Patel (Enrollment No. 107080592040)

Jalpa Patel (Enrollment No. 107080592055)

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PREFACE

The amount of knowledge in the world is doubling every ten years and with the end of

the millennium it is now expected to every five years. So if we plan to be in this

knowledge explosion means that we should be facing with unpredictable challenges andopportunities. How well we address that it would depend upon in large part of our

ability to adapt to the continuing changes

Project work like this gives an exposure to the practical & real life experiences of the

modern market. Management education narrowly thought is a tool to train one to get a

good job & hence enables one to earn ones livelihood.

We choose to make our Global Country Report (GCR) on SOLVAY Group of Belgium

because it is one of the most esteemed and prestigious chemical & plastics producing

company.

Solvay is the best example where new product introduced and has very good financial

positioning in global market. It wants to ensure fairness and transparency in its dealings

with its stakeholders such as consumers, employees, investors and business partners and

conduct itself as a responsible corporate citizen.

I hope that this comprehensive study will meet all the acceptance and expectation of the

reader

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ACKNOWLEDGEMENT

SUCCESS CAN NEVER BE OBTAINED WITHOUT VALUABLE GUIDANCE

The successful completion of a project requires active participation of many peoplefrom the time of inception of an idea to its implementation, many brain works together

and that only provides fruitful result.

First and foremost we are so thankful to our Head of Department Mr. Amit Patel for

given us an opportunity to make project report on Solvay group of Belgium.

We are thankful to Mr. Suresh Patel and Ms. Bhumika Raval, lecturers of Chaudhari

Technical Institute of Management, for providing me various details related to our

study. No project report of this nature can be done without the co-operation, active

support of our sir and madam. They gave us open access, their time, their ever-willing

co-operation providing us necessary facilities for carrying out our project and field

experience. They provide us full guidance and co-operation during the training.

We are also thankful our computer laboratory head and other staff of CTI library for

their helpful hand whenever we needed. Our sincere thanks to all those who have

helped us directly or indirectly.

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EXECUTIVE SUMMARY

SOLVAY is an international chemical and pharmaceutical Group with headquarters in

Brussels. It employs some 29,000 people in 50 countries. In 2006, its consolidated sales

amounted to EUR 9.4 billion, generated by its three sectors of activity: Chemicals,

Plastics and Pharmaceuticals. Solvay (Euro next: SOLB.BE - Bloomberg: SOLB.BB -

Reuters: SOLBt.BR) is listed on the Euro next stock exchange in Brussels.

Industrial Sectors is Chemistry. Company is Focus on Manufacturer.

As an international chemical group, committed to sustainable development with a clear

focus on innovation and operational excellence, Solvay offers a broad range of products

that contribute to improving quality of life and its customers' performance.

As a multicultural company and good corporate citizen, Solvay operates in a

responsible way to develop a sustainable Group caring for the environment, health and

safety of its employees and of the community at large.

SOLVAY in brief

30,000 people worldwide

Chief Executive Officer: Christian Jourquin

Worldwide presence in 55 countries

40% of sales in emerging countries

Diversified customer base in markets such as consumer goods, construction,

automotive, energy, water and environment and electronics.

Among the world leaders in selected markets and products, generating over

90% of sales in businesses where it has # 1,2 or 3 global positions

Strategy of sustainable and profitable growth by investing in high value added

activities and new products with low energy footprint

Acquired specialty chemicals company Rhodia on 7 September 2011

Founded in 1863 by Ernest Solvay in Belgium

Listed on the NYSE Euro next stock exchange in Brussels

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Table of content

No. Particulars

1 Swot Analysis of Solvay Company

2 Pestle Analysis of Belgium

3 Conclusion

4 Bibliography

SWOT ANALYSIS OF SOLVAY COMPANY:

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STRENGTHS

Diversified Product Portfolio

Solvay is a global manufacturer of chemicals and plastics. It offers a

wide range of products and solutions, which helps to improve the

quality of life. The company operates in four segments, namely,

Chemicals, Plastics, New Business Development and Corporate &

Business Support. The chemicals sector specializes in soda ash,

advanced functional minerals, electrochemistry, fluorinated products,

Oxygen and Organics. Plastics sector specializes in specialty andvinyls. In addition, the company processes plastics into waterproofing

foils, pipe, and air and fuel intake systems for automobiles.

Strong liquidity position

The Company Reported a current ratio of 3.47 in 2010 as compared to

its peers, Polyone corporation, Huntsman corporation and Solvay

indupa S.A.I.C., which recorded a current ratio of 2.16, 1.95, and 0.82respectively. As of December 2010, the company recorded cash and

short term investment of worth US$7573.33 million, against US$145.33

million current debt. The company reported a debt to equity ratio of

0.44 in 2010 as compared to its peers, Polyone Corporation, Huntsman

Corporation and Solvay indupa S.A.I.C., which recorded debt to equity

ratio of 0.88, 2.32, and 0.51 respectively.

Wide Spread Operations

Solvay Companys operations are spread across EMAE, NAFTA,

Mercosur and Asia Pacific, with a worldwide presence in 50 countries.

In 2010, the company sold its Pharmaceutical business to Abbott for a

total enterprise value of about 5.2 billion. The Group realizes over

90% of its sales in markets where it is among the top 3 global leaders

High Sustainability

http://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/Home.aspxhttp://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/Home.aspx

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Sustainabilityis at the heart of Solvay's strategy.

It is based on a systematic approach taking into account the

expectations of our key stakeholders and is built on financial,

environmental and societal responsibility.

The Solvay Groups philosophy is unaltered: realize sustained growth

with leading positions and maintain a conservative financial structure.

A Group Vision and Strategy to ensure profitable and sustainable

growth through:

a strong leadership in all of our activities

an important presence in emerging markets

the control of cyclicality of activities

high value added

alignment on mega trends which ensure the sustainability of

performance and steer future developments.

http://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/Home.aspxhttp://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/integratingsustainability/Home.aspxhttp://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/integratingsustainability/Home.aspxhttp://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/Home.aspxhttp://www.solvay.com/EN/Sustainability/sustainabilityatsolvay/integratingsustainability/Home.aspx

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Strong R&D focus in Pharmaceuticals

R&D by Sector in 2010:

Solvay Company has a strong Research & Development department. .Innovation is at the centre of the Solvay group's strategy. It is the keydriver for contributing to sustainable growth and competitiveness.

Solvay is looking for sustainable and profitable growth, by creating newopportunities in markets of the future and has set up New BusinessDevelopmentstrategic platforms. These develop businessopportunities in new fields as well as establish strong internationalnetworks. Solvay is active in innovative solutions with the NewBusiness Development activity, which aims to create materials andsystems using leading edge technologies. 30% of Group incomeshould come from new products or technologies.

Solvay launches three Researches; Development & Technology

centers in Asia RD&T Centers in India, Korea and China will strengthen

Solvays presence and support innovation in this growing region on

February 11, 2010.

http://www.solvay.com/EN/Innovation/NewBusinessDevelopmenthttp://www.solvay.com/EN/Innovation/NewBusinessDevelopmenthttp://www.solvay.com/EN/Innovation/NewBusinessDevelopmenthttp://www.solvay.com/EN/Innovation/NewBusinessDevelopment

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Corporate Governance

Effective and transparent Corporate Governance fosters the

confidence of companys stakeholders in the management andsupervision of the company.

WEAKNESSES

Declining Operating Margin

The company reported revenues of US$9O63.33 million during 2010.

In 2010 the company recorded an operating margin of 4.02%, as

against 6.45% in 2009, 2008 operating result (EUR 965 million) down

by 19% compared to the record result of 2007. Fourth quarter affected

by economic crisis and inventory depreciation.

Declining Revenues from Plastics Segment

Revenues are generated in 2007-08 3695 millions and in 2008-09 is

2982 millions from plastic segment. So it is declining from 2008 to

2009.

Declining Revenues from Chemical Segment

Revenues are generated in 2007-08 3096 millions and in 2008-09 is

2713 millions from plastic segment. So it is declining from 2008 to

2009.

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Sale of Pharmaceuticals Business

Solvay's plans to sell its entire pharmaceutical business to US drugs

group Abbott for more than 5.2 billion euros on 15 February 2010. It

also includes the assumption of certain liabilities and sale price

adjustments, which Solvay valued at approximately EUR 360 million on

January 1st, 2010.

Termination of Agreement with Wyeth

US drug maker Wyeth has terminated its collaboration agreement with

Belgium's Solvay Pharmaceuticals.

"Insufficient commercial value: Wyeth said that it had decided to endthe deal, which was established in 2004, after concluding that

bifeprunox would not have sufficient commercial value for both

companies to share.

Opportunities

Approval of TRILIPI and Simcor

Solvay welcomes FDA approval for Trilipix (fenofibric acid) on

December 16, 2008. TriLipix is a prescription medication used along

with diet in adults to lower triglycerides and LDL (bad) cholesterol, and

increase HDL (good) cholesterol. TRILIPIX can be used alone or with

another cholesterol lowering medicine called a statin. TRILIPIX has

not been shown to prevent heart disease or heart attack. The company

also co-promotes the cholesterol combination

SimCor(niacin/simvastatin) with Abbott. The company's top-selling

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drug franchise is its fenofibrates -TriCorand TriLipix- which it markets

through a global co-promotion agreement with Abbott.

Emerging Markets

Solvay creates spin-out company in safety, health and environment

information management called eSpheres on November 09, 2011..

ESpheres will provide industries a fully integrated suite of HSE

information management solutions and consulting services based on

Solvay's know how and experience, powered by SAP software. By

providing strong support and in-house expertise to eSpheres, Solvay is

demonstrating its commitment to sustainable development, innovation

and entrepreneurship. The new company will support key HSE areas,

including product regulatory compliance, product safety, environmental

performance, industrial hygiene, employee incident and accident

activities, and HSE sustainability performance.

Solvay announced today that MTP HPJV (Thailand) Ltd, its hydrogen

peroxide joint venture with The Dow Chemical Company (Dow), has

successfully commissioned the largest hydrogen peroxide (HP) plant in

the world on October 05, 2011. Solvays HP technology also brings

significant environmental advantages such as reductions in energy

consumption and in waste water. This new world-class plant gives

Solvay the means to bring its Hydrogen Peroxide business to a

significantly higher level within this fast growing region and consolidate

its position as technology leader The production process of the new

plant in Map Ta Phut, Thailand, is based on Solvays proprietary, high-yield hydrogen peroxide technology that enables such unique, large-

scale plants to benefit from advantages in both specific investment and

production costs.

Robust Pharmaceutical Product Pipeline

Solvay Company offers one of the broadest and highest quality generic

and specialty pharmaceutical product portfolios in the industry. The

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company maintains a robust pipeline and provides a wide array of

dosage forms and delivery systems through an expansive global

commercial footprint.

Strategic Acquisition

Solvay acquired the specialty chemicals Rhodia in September

2011: Rhodia is one of the 3 sectors of activities of Solvay. Solvay

to Buy Rhodia for $4.8 Billion. Rhodia generates some 45 percent of

its total sales from emerging markets, and is particularly strong in

Brazil and China. And Rhodia is the cheapest stock in the

European chemicals space.

Rhodia produces specialty chemicals for cosmetics, personal

care, water treatment and plastics and others.

Solvay announces today that it has acquired a fluorspar mine in

Chiprovtsi (), Bulgaria from the N&N Group. This strategic

acquisition reinforces the vertical integration of Solvay's high added-

value fluorinated specialty polymers and fluorinated special chemicals

production at a competitive cost. The acquisition has been approved bythe Bulgarian government on 13 January 2011. This acquisition will

add supplementary reserves to those already provided by the high

quality fluorspar mine in Okorusu (Namibia), thus allowing not only the

consolidation of current productions but also adding capacity to secure

future developments.

THREATS Government Regulation

In contact with governmental representatives, parliamentarians and

public authorities, Solvay contributes to regulatory developments taking

more account of societys expectations. Solvay's Government and

Public Affairs representatives undertake and coordinate the advocacy

of the Groups interests and long term vision towards public authorities

within the highly regulated environment of the chemical industry, at

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international, regional and local levels. Focusing on chemical and

plastics activities, Solvay is active in all relevant local, regional, national

and international business associations, especially in areas where

Solvay has industrial activities.

Increasing competitivepressures

There is so much competition in the market nowadays so there is

always have high pressures for the company that their competitors are

not go ahead from themselves. Particularly in chemical & plastic

business, there are many competitors of Solvay Company so there are

always increased competitive high pressures.

Product liability

Together with its customers, Solvay is developing products that are

safer, economically viable and environmentally friendly, particularly

for industries that see their product strategies in terms of ecoefficiency:

construction, food-processing, detergent, etc.

Our development strategies include analysis of the environmental

impact of our products throughout their lifecycles, from raw materials to

the final waste products. Solvays products are building blocks for

other industries: we take into account the full lifecycle of products we

manufacture, anticipating substitution of unsustainable products. So it

becomes product liability of its own Solvay Company of its products.

Supply chain risk

Knowing the products, their intrinsic properties, their potentialhazardous effects on human health and the environment is one of

primary obligations as a responsible manufacturer. It is one of the

strategies of the Solvay Company to establish specific systems for the

management of hazardous materials transport and rigorous audit

systems so here there is also supply chain risk because in this

business, there are hazardous effects on human health and the

environment of all chemicals so there is always threat of the supplychain risk.

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Uncertain R&D outcomes

Every company will also focus on the research and development also

.it is also one of the functional activities of the every company. But

when they make research & development activity, they are also notsure that some definite outcomes will occur. There is always an

uncertainty will remain whether right outcomes wil be occur or not. So

there is always uncertainty about R&D outcomes while doing research

activities.

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Location of factor

Type of factor

Favorable UnfavorableInternal factor Strength

Diversified ProductPortfolio

Strong liquidityposition

Wide SpreadOperations

High Sustainability

Strong R&D focus inPharmaceuticals

CorporateGovernance

Weaknesses

DecliningOperating Margin

DecliningRevenues fromPlastics Segment

DecliningRevenues fromchemical Segment

Sale ofPharmaceuticalsBusiness

Termination ofAgreement withWyeth

External factor Opportunities

Approval of TRILIPIand Simcor

Emerging Markets

RobustPharmaceuticalProduct Pipeline

Strategic Acquisition

Threats

GovernmentRegulations

IncreasingCompetitivePressures

Product Liability

Supply ChainRisks

Uncertain R&DOutcomes

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PESTEL ANALYSIS

Politics of Belgium

The Constitution of Belgium, the primary source of law and the basis ofthe political system of the Country, was established on February 7,

1831. It has been changed several times, but the most relevant reforms

were performed in 1970 and in 1993.

In 1970, in response to a growing civil conflict between the Dutch-

speaking and French-speaking communities in Brussels, the

Government declared that "the unitary state, its structure and

functioning as laid down by law, had become obsolete". The new

constitution recognized the existence of strong communitarian and

regional differences within Belgium, but sought to reconcile these

differences through a diffusion of power to the communities and the

regions.

In 1993 the parliament approved a constitutional package transforming

Belgium into a full-fledged federal state.

Politics of Belgium takes place in a framework of a federal,

parliamentary, representative democratic, constitutional monarchy,

whereby the King of the Belgians is the Head of State and the Prime

Minister of Belgium is the head of government in a multi-party system.

Executive poweris exercised by the government. Federal legislative

poweris vested in both the government and the two chambers of

parliament, the Senate and the Chamber of Representatives. The

federation is made up of(cultural/political) communities and (territorial)

regions.

Belgium's political institutions are complex; most political power is

organized around the need to represent the main cultural (and political)

communities. Since around 1970, the significant national Belgian

political parties have split into distinct representations for eachcommunitys interests besides defenders of their ideologies. These

http://en.wikipedia.org/wiki/Federationhttp://en.wikipedia.org/wiki/Parliamentary_systemhttp://en.wikipedia.org/wiki/Representative_democracyhttp://en.wikipedia.org/wiki/Constitutional_monarchyhttp://en.wikipedia.org/wiki/Belgian_monarchyhttp://en.wikipedia.org/wiki/Prime_Minister_of_Belgiumhttp://en.wikipedia.org/wiki/Prime_Minister_of_Belgiumhttp://en.wikipedia.org/wiki/Head_of_governmenthttp://en.wikipedia.org/wiki/Multi-party_systemhttp://en.wikipedia.org/wiki/Executive_powerhttp://en.wikipedia.org/wiki/Legislative_powerhttp://en.wikipedia.org/wiki/Legislative_powerhttp://en.wikipedia.org/wiki/Governmenthttp://en.wikipedia.org/wiki/Belgian_Senatehttp://en.wikipedia.org/wiki/Belgian_Chamber_of_Representativeshttp://en.wikipedia.org/wiki/Federationhttp://en.wikipedia.org/wiki/Communities,_regions_and_language_areas_of_Belgiumhttp://en.wikipedia.org/wiki/Communities,_regions_and_language_areas_of_Belgiumhttp://en.wikipedia.org/wiki/Political_partyhttp://en.wikipedia.org/wiki/Federationhttp://en.wikipedia.org/wiki/Parliamentary_systemhttp://en.wikipedia.org/wiki/Representative_democracyhttp://en.wikipedia.org/wiki/Constitutional_monarchyhttp://en.wikipedia.org/wiki/Belgian_monarchyhttp://en.wikipedia.org/wiki/Prime_Minister_of_Belgiumhttp://en.wikipedia.org/wiki/Prime_Minister_of_Belgiumhttp://en.wikipedia.org/wiki/Head_of_governmenthttp://en.wikipedia.org/wiki/Multi-party_systemhttp://en.wikipedia.org/wiki/Executive_powerhttp://en.wikipedia.org/wiki/Legislative_powerhttp://en.wikipedia.org/wiki/Legislative_powerhttp://en.wikipedia.org/wiki/Governmenthttp://en.wikipedia.org/wiki/Belgian_Senatehttp://en.wikipedia.org/wiki/Belgian_Chamber_of_Representativeshttp://en.wikipedia.org/wiki/Federationhttp://en.wikipedia.org/wiki/Communities,_regions_and_language_areas_of_Belgiumhttp://en.wikipedia.org/wiki/Communities,_regions_and_language_areas_of_Belgiumhttp://en.wikipedia.org/wiki/Political_party

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parties belong to three main political families, though close to the

centre: the right-wingLiberals, the social conservativeChristian

Democrats, and Socialists forming the left-wing. Other important newer

parties are the Green parties and, nowadays mainly in Flanders, the

nationalist and far-right parties. Politics is influenced by lobby groups,

such as trade unions and employers' organizations such as the

Federation of Belgian Enterprises. Majority rule is often superseded by

a de facto confederal decision making process where the minority (the

French-speakers) enjoys important protections through specialty

majorities (2/3 overall and majority in each of the 2 main communities).

Economy

Belgium, a highly developed market economy, belongs to the

Organization for Economic Cooperation and Development (OECD), a

group of leading industrialized democracies. With a geographic area

about equal to that of Maryland, and a population of 10.8 million,

Belgian per capita GDP ranks among the worlds highest. In 2010, per

capita income was estimated to be approx $43,220.GDP growth in

2010 was estimated to be 2.1%.

Densely populated Belgium is located at the heart of one of the world's

most highly industrialized regions. Belgium developed an excellent

transportation infrastructure of ports, canals, railways, and highways to

integrate its industry with that of its neighbors. One of the founding

members of the European Community, Belgium strongly supports

deepening the powers of the present-day European Union to integrate

European economies further.

With exports and imports approximately equal to GDP, Belgium

depends heavily on world trade. Belgium's trade advantages are

derived from its central geographic location and a highly skilled,

multilingual, and productive work force.

http://en.wikipedia.org/wiki/Centrismhttp://en.wikipedia.org/wiki/Right-wing_politicshttp://en.wikipedia.org/wiki/Liberalshttp://en.wikipedia.org/wiki/Social_conservatismhttp://en.wikipedia.org/wiki/Christian_democracyhttp://en.wikipedia.org/wiki/Christian_democracyhttp://en.wikipedia.org/wiki/Social_democracyhttp://en.wikipedia.org/wiki/Left-wing_politicshttp://en.wikipedia.org/wiki/Worldwide_green_partieshttp://en.wikipedia.org/wiki/Nationalismhttp://en.wikipedia.org/wiki/Far-righthttp://en.wikipedia.org/wiki/Trade_unionhttp://en.wikipedia.org/wiki/Employers'_organizationhttp://en.wikipedia.org/wiki/Federation_of_Belgian_Enterpriseshttp://en.wikipedia.org/wiki/Centrismhttp://en.wikipedia.org/wiki/Right-wing_politicshttp://en.wikipedia.org/wiki/Liberalshttp://en.wikipedia.org/wiki/Social_conservatismhttp://en.wikipedia.org/wiki/Christian_democracyhttp://en.wikipedia.org/wiki/Christian_democracyhttp://en.wikipedia.org/wiki/Social_democracyhttp://en.wikipedia.org/wiki/Left-wing_politicshttp://en.wikipedia.org/wiki/Worldwide_green_partieshttp://en.wikipedia.org/wiki/Nationalismhttp://en.wikipedia.org/wiki/Far-righthttp://en.wikipedia.org/wiki/Trade_unionhttp://en.wikipedia.org/wiki/Employers'_organizationhttp://en.wikipedia.org/wiki/Federation_of_Belgian_Enterprises

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The Belgian industrial sector can be compared to a complex

processing machine: It imports raw materials and semi-finished goods

that are further processed and re-exported. Except for its coal, which is

no longer economical to exploit, Belgium has virtually no natural

resources. Nonetheless, most traditional industrial sectors are

represented in the economy, including steel, textiles, refining,

chemicals, food processing, pharmaceuticals, automobiles, electronics,

and machinery fabrication. Despite the heavy industrial component,

services account for 77.4% of GDP (2009). Agriculture accounts for

only 1% of GDP.

Belgian Economy in the 20th Century

For 200 years through World War I, French-speaking Wallonia was a

technically advanced, industrial region, while Dutch-speaking Flanders

was predominantly agricultural. This disparity began to fade during the

interwar period. As Belgium emerged from World War II with its

industrial infrastructure relatively undamaged, the stage was set for a

period of rapid development, particularly in Flanders. The postwar

boom years contributed to the rapid expansion of light industry

throughout most of Flanders, particularly along a corridor stretching

between Brussels and Antwerp, where a major concentration of

petrochemical industries developed.

Foreign Investment

Foreign investment contributed significantly to Belgian economicgrowth in the 1960s. In particular, U.S. firms played a leading role in

the expansion of light industrial and petrochemical industries in the

1960s and 1970s. The Belgian Government encourages new foreign

investment as a means to promote employment. With regional

devolution, Flanders, Brussels, and Wallonia now have substantial

autonomy in courting potential foreign investors, as each deems

appropriate.

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Foreign direct investment (stock) totaled more than $705 billion

(cumulative) in 2009. U.S. and other foreign companies in Belgium

account for approximately 11% of the total work force, with the U.S.

share at about 6%. U.S. companies are heavily represented in the

chemical sector, automotive assembly, petroleum refining, and

pharmaceutical sectors. A number of U.S. service industries followed in

the wake of these investments--banks, law firms, public relations,

accounting, and executive search firms. The resident American

community in Belgium now exceeds 20,000. Attracted by the EU 1992

single-market program, many U.S. law firms and lawyers have settled

in Brussels since 1989.

Trade

Most of Belgium's trade is with fellow EU member states. As a result, Belgium seeks to

diversify and expand trade opportunities with non-EC countries. Through

November 2010, Belgium ranked as the 14th-largest market for the

export of U.S. goods.

Bilaterally, there are few points of friction with the U.S. in the trade andeconomic area. The Belgian authorities are, as a rule, anti-protectionist

and try to maintain a hospitable and open trade and investment

climate. As a result, the U.S. Government focuses its market-opening

efforts on the EU Commission and larger member states. Moreover,

the Commission negotiates on trade issues for all member states,

which in turn lessens bilateral trade disputes with Belgium.

Employment

Belgium's unemployment rate was 8.3% in November 2010. A total of

4.47 million people make up Belgium's labor force. The majority of

these people (73%) work in the service sector. Belgian industry claims

25% of the labor force and agriculture only 2%. As in other

industrialized nations, pension and other social entitlement programs

have become a major concern as the "baby boom" generation

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approaches retirement.

Social

The social landscape covers the demographics, education and

healthcare scenario in Belgium. The social welfare policies of the

government along with the countrys performance in terms of

healthcare, income distribution and education are also provided.

Demographics

In the beginning of 2007, nearly 92% of the population had Belgian

citizenship, and other European Union member citizens account for

around 6%. The prevalent foreign nationals were Italian (171,918),

French (125,061), Dutch (116,970), Moroccan (80,579), Spanish

(42,765), Turkish (39,419) and German (37,621). Immigrants since

1945 and their descendents are estimated by 2008 to have formed

22% of the total population. Of these 'New Belgians', 1,313,000 (56%)

are of European ancestry and the 950,000 others originated from the

rest of the world. Almost all of the Belgian population is urban97% in

2004. The population density of Belgium is 342 per square kilometer

(886 per square mile). The most densely inhabited area is Flanders,

and in particular the Flemish Diamond, outlined by theAntwerp

LeuvenBrusselsGhent agglomerations. In 2007, there were 1.38

million foreign-born residents in Belgium, corresponding to 12.9% of

the total population. Of these, 685 000 (6.4%) were born outside the

EU and 695 000 (6.5%) were born in another EU Member State.The Ardennes has the lowest density. As of 2006, the Flemish Region

had a population of about 6,078,600, withAntwerp (457,749), Ghent

(230,951) and Bruges (117,251) its most populous cities; Wallonia had

3,413,978, with Charleroi (201,373), Liege (185,574) and Namur

(107,178) its most populous. Brussels houses 1,018,804 in the Capital

Region's 19 municipalities, two of which have over 100,000 residents.

http://www.pr-inside.com/country-analysis-report-belgium-r2849142.htmhttp://en.wikipedia.org/wiki/Moroccohttp://en.wikipedia.org/wiki/Turkish_peoplehttp://en.wikipedia.org/wiki/Flemish_Diamondhttp://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Leuvenhttp://en.wikipedia.org/wiki/Brusselshttp://en.wikipedia.org/wiki/Ghenthttp://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Charleroihttp://en.wikipedia.org/wiki/Li%C3%A8gehttp://en.wikipedia.org/wiki/Namur_(city)http://en.wikipedia.org/wiki/List_of_municipalities_of_the_Brussels_Capital-Regionhttp://www.pr-inside.com/country-analysis-report-belgium-r2849142.htmhttp://en.wikipedia.org/wiki/Moroccohttp://en.wikipedia.org/wiki/Turkish_peoplehttp://en.wikipedia.org/wiki/Flemish_Diamondhttp://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Leuvenhttp://en.wikipedia.org/wiki/Brusselshttp://en.wikipedia.org/wiki/Ghenthttp://en.wikipedia.org/wiki/Antwerphttp://en.wikipedia.org/wiki/Brugeshttp://en.wikipedia.org/wiki/Charleroihttp://en.wikipedia.org/wiki/Li%C3%A8gehttp://en.wikipedia.org/wiki/Namur_(city)http://en.wikipedia.org/wiki/List_of_municipalities_of_the_Brussels_Capital-Region

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Education

Education is compulsory from six to 18 years of age for Belgians.

Among OECD countries in 2002, Belgium had the third-highestproportion of 1821 year-olds enrolled in postsecondary education, at

42% though an estimated 98% of the adult population is literate,

concern is rising overfunctional illiteracy. The Programmed for

International Student Assessment, coordinated by the OECD, currently

ranks Belgium's education as the 19th best in the world, being

significantly higher than the OECD average. Education being organized

separately by each, the Flemish Community scores noticeably above

the French and German-speaking Communities.

Health

The Belgians are known to enjoy good health. Their life expectancy

numbered 79.5 years in 2004. Since 1960, life expectancy has, in line

with the European average, grown by two months per year. Death is in

Belgium mainly due to heart and vascular disorders, neoplasm,

disorders of the respiratory system and unnatural causes of death

(accidents, suicide). Non-natural causes of death and cancer are the

most common causes of death for females up to age 24 and males up

to age 44.

Health care is of high quality and is financed through both social

security contributions and taxation. Health insurance is compulsory.

However health care is delivered by a mostly private system ofindependent medical practitioners and hospitals. Most of the time each

provided service is directly paid by the patient and reimbursed later on

by health insurance companies. Belgian health care system is

supervised and financed by the federal government, the three

Communities and the three Regions, i.e. six distinct Ministries (the

Flemish Community and Region have merged).

http://en.wikipedia.org/wiki/Postsecondary_educationhttp://en.wikipedia.org/wiki/Functional_illiteracyhttp://en.wikipedia.org/wiki/Programme_for_International_Student_Assessmenthttp://en.wikipedia.org/wiki/Programme_for_International_Student_Assessmenthttp://en.wikipedia.org/wiki/OECDhttp://en.wikipedia.org/wiki/Neoplasmhttp://en.wikipedia.org/wiki/Health_care_systems#Belgiumhttp://en.wikipedia.org/wiki/Postsecondary_educationhttp://en.wikipedia.org/wiki/Functional_illiteracyhttp://en.wikipedia.org/wiki/Programme_for_International_Student_Assessmenthttp://en.wikipedia.org/wiki/Programme_for_International_Student_Assessmenthttp://en.wikipedia.org/wiki/OECDhttp://en.wikipedia.org/wiki/Neoplasmhttp://en.wikipedia.org/wiki/Health_care_systems#Belgium

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Culture

Despite its political and linguistic divisions, the region corresponding to

today's Belgium has seen the flourishing of major artistic movementsthat have had tremendous influence on European art and culture.

Nowadays, to a certain extent, cultural life is concentrated within each

language Community, and a variety of barriers have made a shared

cultural sphere less pronounced. Since the 1970s, there are no

bilingual universities in the country except the Royal Military Academy

and the Antwerp Maritime Academy, no common media and no single

large cultural or scientific organization in which both main communitiesare represented. The forces that once held the Belgians together

Roman Catholicism and economic and political opposition to the Dutch

are no longer strong.

Technological

The technological landscape discusses the structure and policies in

terms of Intellectual property, research & development, technologyagreements/pacts; and policies related to the promotion of technology

in Belgium.

Chemist Ernest Solvay and engineerZenobe Gramme (cole

Industrielle de Liege) gave their names to the Solvay process and the

Gramme dynamo, respectively, in the 1860s. Bakelite was developed

in 19071909 by Leo Baekeland. Ernest Solvay also acted as a major

philanthropist and gave its name to the Solvay Institute of Sociology,

the Solvay Brussels School of Economics and Management and the

International Solvay Institutes for Physics and Chemistry which are

now part of the Universit Libre de Bruxelles. In 1911, he started a

series of conferences, the Solvay Conferences on Physics and

Chemistry, which have had a deep impact on the evolution of quantum

physics and chemistry. A major contribution to fundamental science

was also due to a Belgian, Georges Lematre (Catholic University of

http://en.wikipedia.org/wiki/Partition_of_Belgiumhttp://en.wikipedia.org/wiki/Royal_Military_Academy_(Belgium)http://en.wikipedia.org/wiki/Ernest_Solvayhttp://en.wikipedia.org/wiki/Zenobe_Grammehttp://en.wikipedia.org/wiki/Solvay_processhttp://en.wikipedia.org/wiki/Gramme_dynamohttp://en.wikipedia.org/wiki/Bakelitehttp://en.wikipedia.org/wiki/Leo_Baekelandhttp://en.wikipedia.org/wiki/Solvay_Institute_of_Sociologyhttp://en.wikipedia.org/wiki/Solvay_Brussels_School_of_Economics_and_Managementhttp://en.wikipedia.org/wiki/Universit%C3%A9_Libre_de_Bruxelleshttp://en.wikipedia.org/wiki/Solvay_Conferencehttp://en.wikipedia.org/wiki/Solvay_Conferencehttp://en.wikipedia.org/wiki/Georges_Lema%C3%AEtrehttp://en.wikipedia.org/wiki/Catholic_University_of_Leuvenhttp://en.wikipedia.org/wiki/Partition_of_Belgiumhttp://en.wikipedia.org/wiki/Royal_Military_Academy_(Belgium)http://en.wikipedia.org/wiki/Ernest_Solvayhttp://en.wikipedia.org/wiki/Zenobe_Grammehttp://en.wikipedia.org/wiki/Solvay_processhttp://en.wikipedia.org/wiki/Gramme_dynamohttp://en.wikipedia.org/wiki/Bakelitehttp://en.wikipedia.org/wiki/Leo_Baekelandhttp://en.wikipedia.org/wiki/Solvay_Institute_of_Sociologyhttp://en.wikipedia.org/wiki/Solvay_Brussels_School_of_Economics_and_Managementhttp://en.wikipedia.org/wiki/Universit%C3%A9_Libre_de_Bruxelleshttp://en.wikipedia.org/wiki/Solvay_Conferencehttp://en.wikipedia.org/wiki/Solvay_Conferencehttp://en.wikipedia.org/wiki/Georges_Lema%C3%AEtrehttp://en.wikipedia.org/wiki/Catholic_University_of_Leuven

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Leuven), who is credited with proposing the Big Bang theory of the

origin of the universe in 1927

Three Nobel Prizes in Physiology or Medicine were awarded to

Belgians: Jules Bordet (Universit Libre de Bruxelles) in 1919,

Corneille Heymans (University of Ghent) in 1938 andAlbert Claude

(Universit Libre de Bruxelles) together with Christian De Duve

(Universit Catholique de Louvain) in 1974. Ilya Prigogine (Universit

Libre de Bruxelles) was awarded the Nobel Prize in Chemistry in 1977.

Two Belgian mathematicians have been awarded the Fields Medal:

Pierre Deligne in 1978 and Jean Bourgain in 1994.

Legal

The legal landscape examines the structure of the judicial system,

legislation affecting businesses, tax regulations, labor laws, trade

regulations and corporate governance in Belgium.

Tax regulations

Companies and businesses operating in Belgium are liable to certain

taxes, as well as a social security contribution (paid as a lump sum

each year). This section features details of these taxes, as well as

other company tax issues, such as capital duty and special levies for

undeclared commission. Tax is paid in advance. If it is paid after

receipt of income, the rates are higher. Banks often offer loans to help

business people with advance payments.

labour laws

An undertaking whose head office is established outside Belgium can

temporarily post its workers in Belgium to perform contractual labour.

During the period of posting, the employer is obliged to comply with

certain essential provisions of Belgian regulation with regard to labour

law.

http://en.wikipedia.org/wiki/Catholic_University_of_Leuvenhttp://en.wikipedia.org/wiki/Big_Banghttp://en.wikipedia.org/wiki/Nobel_Prize_in_Physiology_or_Medicinehttp://en.wikipedia.org/wiki/Jules_Bordethttp://en.wikipedia.org/wiki/Universit%C3%A9_Libre_de_Bruxelleshttp://en.wikipedia.org/wiki/Corneille_Heymanshttp://en.wikipedia.org/wiki/University_of_Ghenthttp://en.wikipedia.org/wiki/Albert_Claudehttp://en.wikipedia.org/wiki/Christian_De_Duvehttp://en.wikipedia.org/wiki/Ilya_Prigoginehttp://en.wikipedia.org/wiki/Nobel_Prize_in_Chemistryhttp://en.wikipedia.org/wiki/Fields_Medalhttp://en.wikipedia.org/wiki/Pierre_Delignehttp://en.wikipedia.org/wiki/Jean_Bourgainhttp://en.wikipedia.org/wiki/Catholic_University_of_Leuvenhttp://en.wikipedia.org/wiki/Big_Banghttp://en.wikipedia.org/wiki/Nobel_Prize_in_Physiology_or_Medicinehttp://en.wikipedia.org/wiki/Jules_Bordethttp://en.wikipedia.org/wiki/Universit%C3%A9_Libre_de_Bruxelleshttp://en.wikipedia.org/wiki/Corneille_Heymanshttp://en.wikipedia.org/wiki/University_of_Ghenthttp://en.wikipedia.org/wiki/Albert_Claudehttp://en.wikipedia.org/wiki/Christian_De_Duvehttp://en.wikipedia.org/wiki/Ilya_Prigoginehttp://en.wikipedia.org/wiki/Nobel_Prize_in_Chemistryhttp://en.wikipedia.org/wiki/Fields_Medalhttp://en.wikipedia.org/wiki/Pierre_Delignehttp://en.wikipedia.org/wiki/Jean_Bourgain

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The employer who employs posted workers in Belgium is, in respect of

the work performed there, obliged to comply with the terms and

conditions of employment, of work and pay laid down in legal,

regulatory or collective provisions carrying a criminal law punishment. It

establishes a core of mandatory regulations aimed at ensuring the

protection of the rights of workers posted in Belgium.

Those essential regulations relate to:

working hours and rest periods: the labour organization, that is to say

the normal limits of working hours, overtime, work on Sundays, night

work, work on public holiday; minimum rates of pay: minimum wages fixed by collective agreements

made mandatory by Royal Decrees;

temporary work: the set of rules that determines cases where

temporary work is authorized and rules framing this type of work;

provision of labour force: rules that determine the conditions of the

supply of workers for a user;

equality of treatment: non-discrimination principles, especially betweenmen and women

health, safety and hygiene at work;

protective measures with regard to pregnant women;

Social documents enabling the control by the inspection services of

matters with relation to the directive 96/71/EC concerning the posting

of workers.

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Trade regulations

The Belgian economy is particularly open, foreign trade representing

more than 180% of GDP. In addition to being an export champion,

Belgium also plays an important role as a transit and distribution centerfor the other countries of the European Union.

Belgium's trade deficit, which was structurally in surplus but had been

gradually, worsening since 2002, reached a colossal deficit under the

effects of the global recession. It has somewhat recovered with the

resumption of exports.

Belgian international trade is primarily done within the European Union

(nearly 80% of exports and imports). Its main trading partners are the

Netherlands, Germany, France, Great Britain and the United States.

Corporate governance

With the Belgian Corporate Governance Code becoming fully effective on

January 1, 2006, for the 2005 financial year. It include, Shareholders Meetings

Place and date

Agenda of the Shareholders Meeting

Procedure for calling meetings

Blocking of shares and appointment of proxies

Procedure

Documentation The Board of Directors p.

Role and mission

Modus operandi and representation

Composition of the Board of Directors

Board Committees

Compensation of the Board of Director

Ethical rules

The Executive Committee p.

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Role and Mission

Delegation of powers Composition of the Executive Committee

Frequency of and preparation and procedure for Executive

Committee meetings

Compensation of the Executive Committee

Ethical and compliance rules

Environmental

The environmental landscape in Belgium discusses the environmental

regulations and policies of the country. The performance of the country

in terms of in terms of environmental indicators and impact of

environmental policies is also examined.

The environment of Belgium is affected by the high population density

in most of the country. Water quality suffers from a relatively low

percentage of sewage wastewater treatment and from historical

pollution accumulated in sediments. Air quality is affected by emissions

from traffic and house heating. Biodiversity is low because of

destruction and fragmentation of habitats. In the Pilot 2006

Environmental Performance Index, Belgium was ranked lowest of the

EU member countries for overall environmental performance.[1].

Since the 1993 State Reform, the environment is a regional

responsibility, with the Flemish, Walloon and Brussels-Capital Regions

responsible for environmental matters in their respective territories.

This has led to differences in legislation and separation of

measurements and publication of statistics

Air

In Flanders, emission of non-methane-VOC has decreased from 200

kton in 1990 to around 100 kton in 2006, because of lower emissions

from transport and industry. These two however remain the mostimportant VOC polluters.

http://en.wikipedia.org/wiki/Pilot_2006_Environmental_Performance_Indexhttp://en.wikipedia.org/wiki/Pilot_2006_Environmental_Performance_Indexhttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Environment_of_Belgium#cite_note-0http://en.wikipedia.org/wiki/State_reform_in_Belgiumhttp://en.wikipedia.org/wiki/Flemish_Regionhttp://en.wikipedia.org/wiki/Walloniahttp://en.wikipedia.org/wiki/Brussels-Capital_Regionhttp://en.wikipedia.org/wiki/Volatile_Organic_Compoundshttp://en.wikipedia.org/wiki/Pilot_2006_Environmental_Performance_Indexhttp://en.wikipedia.org/wiki/Pilot_2006_Environmental_Performance_Indexhttp://en.wikipedia.org/wiki/Belgiumhttp://en.wikipedia.org/wiki/Environment_of_Belgium#cite_note-0http://en.wikipedia.org/wiki/State_reform_in_Belgiumhttp://en.wikipedia.org/wiki/Flemish_Regionhttp://en.wikipedia.org/wiki/Walloniahttp://en.wikipedia.org/wiki/Brussels-Capital_Regionhttp://en.wikipedia.org/wiki/Volatile_Organic_Compounds

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Particulate matteremissions and environmental concentrations have

decreased since 1995, but little improvement is visible since

2000.European Union targets for average daily PM10 concentrations in

2005 have not been met and a significant increase was seen in 2006

compared to 2005. The problem is mostly situated in cities and

industrial areas.

Total acidifying emissions have decreased very rapidly since 1990, but

NOx still remains a problem. Half of NOx emissions are due to

transport.

Photochemical air pollution remains a problem. On hot summer days,

ozone levels frequently surpass EU targets. In 2006, the average was6970 ug/m3 while the EU target is 5800 ug/m3.

Greenhouse gas emissions have fallen from 90 Mton CO2-eq in 2003

to 85 Mton CO2-eq in 2006. The Kyoto target for Flanders is 82.5 Mton

during the period 2008-2012.

Water Organic load

Nutrients

Soil

Polluted grounds

Noise

Noise hinder

http://en.wikipedia.org/wiki/Particulate_matterhttp://en.wikipedia.org/wiki/European_Unionhttp://en.wikipedia.org/wiki/PM10http://en.wikipedia.org/wiki/Kyotohttp://en.wikipedia.org/wiki/Particulate_matterhttp://en.wikipedia.org/wiki/European_Unionhttp://en.wikipedia.org/wiki/PM10http://en.wikipedia.org/wiki/Kyoto

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CONCLUSION

This SWOTAnalysis is a crucial resource for industry executives and anyone

looking to quickly understand the key information concerning companys

business. Company Profile and SWOT Analysis" report utilizes a wide range

of primary and secondary sources, which are analyzed and presented in a

consistent and easily accessible format. Company has good strengths in

respect to it has strong R&D in Pharmaceutical, diversified product portfolio,

Strong liquidity position, High sustainability, High employee satisfaction &

Wide spread operation. Company has good strengths over its weakness.

Company has strong opportunity for sustaining growth in economy. Company

has threats that can bi neglect but not avoided.

This PESTLEAnalysis of Belgium Country is also concluding that various

factors affect the country that ultimately affects the company. PEST analysis

looks at the external business environment and is an appropriate strategic tool

for understanding the "big picture" of the environment in which business

operates, enabling the company to take advantage of the opportunities and

minimize the threats faced by thier business activities. When strategicplanning is done correctly, it provides a solid plan for a company to grow into

the future.

With a PEST analysis, the company can see a longer horizon of time, and

be able to clarify strategic opportunities and threats that the organisation

faces. By looking to the outside environment to see the potential forces of

change looming on the horizon, firms can take the strategic planning

process out of the arena of today and into the horizon of tomorrow.

http://www.live-pr.com/en/recently-released-market-study-solvay-r1049102270.htmhttp://www.live-pr.com/en/recently-released-market-study-solvay-r1049102270.htmhttp://www.coursework4you.co.uk/essays-and-dissertations/economics/business-and-environment/businessandenvironment.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.phphttp://www.coursework4you.co.uk/essays-and-dissertations/analysis-of-companies/analysisofcompanies.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.phphttp://www.live-pr.com/en/recently-released-market-study-solvay-r1049102270.htmhttp://www.live-pr.com/en/recently-released-market-study-solvay-r1049102270.htmhttp://www.coursework4you.co.uk/essays-and-dissertations/economics/business-and-environment/businessandenvironment.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.phphttp://www.coursework4you.co.uk/essays-and-dissertations/analysis-of-companies/analysisofcompanies.phphttp://www.coursework4you.co.uk/essays-and-dissertations/finance-and-accounting/strategic-financial-planning-and-control/strategicfinancialplanningandcontrol.php

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BILIOGRAPHY

I have referred following websites for the information

about

Solvay Company.

Website

www.solvay.com

http://www.solvay.com/EN/Homepage.aspx

http://www.solvay.com/EN/NewsPress/PressReleases.aspx?

FilterField1=Year&FilterValue1=2011

http://www.solvay.com/EN/NewsPress/20111109_spinoutcompanyeS

pheres.aspx

http://www.solvay.com/EN/NewsPress/20110404_Rhodia.aspx

http://www.thepharmaletter.com/file/17649/solvay-viewing-options-for-

pharma.html

http://dealbook.nytimes.com/2011/04/04/solvay-to-buy-rhodia-for-4-8-

billion/

www.icis.com

http://www.icis.com/v2/companies/9146262/solvay.html

www.eu business .com

www.eu business .com/news-eu/belgium-us- pharma.2o7

www.abbott.de

http://www.docstoc.com/docs/72368961/Solvay-SA-

SWOT-Analysis-and-Company-Profile

www.wikipedia.com

http://en.wikipedia.org/wiki/Solvay_(company)

http://www.solvay.com/http://www.solvay.com/http://www.solvay.com/http://www.solvay.com/EN/Homepage.aspxhttp://www.solvay.com/EN/NewsPress/PressReleases.aspx?FilterField1=Year&FilterValue1=2011http://www.solvay.com/EN/NewsPress/PressReleases.aspx?FilterField1=Year&FilterValue1=2011http://www.solvay.com/EN/NewsPress/20111109_spinoutcompanyeSpheres.aspxhttp://www.solvay.com/EN/NewsPress/20111109_spinoutcompanyeSpheres.aspxhttp://www.solvay.com/EN/NewsPress/20110404_Rhodia.aspxhttp://www.thepharmaletter.com/file/17649/solvay-viewing-options-for-pharma.htmlhttp://www.thepharmaletter.com/file/17649/solvay-viewing-options-for-pharma.htmlhttp://dealbook.nytimes.com/2011/04/04/solvay-to-buy-rhodia-for-4-8-billion/http://dealbook.nytimes.com/2011/04/04/solvay-to-buy-rhodia-for-4-8-billion/http://www.icis.com/http://www.icis.com/v2/companies/9146262/solvay.htmlhttp://www.icis.com/v2/companies/9146262/solvay.htmlhttp://www.eubusiness.com/http://www.eubusiness.com/news-eu/belgium-us-pharma.2o7http://www.eubusiness.com/news-eu/belgium-us-pharma.2o7http://www.eubusiness.com/news-eu/belgium-us-pharma.2o7http://www.eubusiness.com/news-eu/belgium-us-pharma.2o7http://www.abbott.de/http://www.docstoc.com/docs/72368961/Solvay-SA-SWOT-Analysis-and-Company-Profilehttp://www.docstoc.com/docs/72368961/Solvay-SA-SWOT-Analysis-and-Company-Profilehttp://www.wikipedia.com/http://en.wikipedia.org/wiki/Solvay_(company)http://www.solvay.com/http://www.solvay.com/EN/Homepage.aspxhttp://www.solvay.com/EN/NewsPress/PressReleases.aspx?FilterField1=Year&FilterValue1=2011http://www.solvay.com/EN/NewsPress/PressReleases.aspx?FilterField1=Year&FilterValue1=2011http://www.solvay.com/EN/NewsPress/20111109_spinoutcompanyeSpheres.aspxhttp://www.solvay.com/EN/NewsPress/20111109_spinoutcompanyeSpheres.aspxhttp://www.solvay.com/EN/NewsPress/20110404_Rhodia.aspxhttp://www.thepharmaletter.com/file/17649/solvay-viewing-options-for-pharma.htmlhttp://www.thepharmaletter.com/file/17649/solvay-viewing-options-for-pharma.htmlhttp://dealbook.nytimes.com/2011/04/04/solvay-to-buy-rhodia-for-4-8-billion/http://dealbook.nytimes.com/2011/04/04/solvay-to-buy-rhodia-for-4-8-billion/http://www.icis.com/http://www.icis.com/v2/companies/9146262/solvay.htmlhttp://www.eubusiness.com/http://www.eubusiness.com/news-eu/belgium-us-pharma.2o7http://www.abbott.de/http://www.docstoc.com/docs/72368961/Solvay-SA-SWOT-Analysis-and-Company-Profilehttp://www.docstoc.com/docs/72368961/Solvay-SA-SWOT-Analysis-and-Company-Profilehttp://www.wikipedia.com/http://en.wikipedia.org/wiki/Solvay_(company)

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