EMN - Solvay's Exposures Make It A Portfolio Challenge Despite Quality
Solvay (OTCQX:SVYSF) is a quality chemicals company, but substantial challenges in the sector, exacerbated by Solvay's end-market exposures, mean that its results are likely to decline far further. Broadly, chemicals are suffering with the decline in industrial activity, including construction and a slowdown in the automotive sector. In Solvay's case in particular, the slowdown in aviation will take its toll. Indeed, Solvay just closed two factories for their aviation products and have begun to fire workers. Nonetheless, even with the impact that Covid-19 had on Solvay's business, management proved that it could do