GranBio Investimentos SA, a Brazilian biotechnology company, plans to build a plant with Solvay SA that will process sugar-cane residues into a chemical used in paints.
The factory will produce so-called n-butanol and is expected to come online in 2015, Sao Paulo-based Granbio said today in a statement. The project still requires approval from both companies’ boards and clearance from Brazil’s antitrust agency Conselho Administrativo de Defesa Economica.
Solvay is a Brussels-based chemicals and plastic maker.
GranBio is controlled by Gran Investimentos, a holding company for the Gradin family.