Abstract
YES, SOLVAY IS A HYBRID company, with four sectors, says Alois Michielsen, the Belgian firm's chief I executive officer. But, he adds, the company—one of the top 20 global chemical companies and one of Belgium's largest companies of any kind—is proud to be one. In fact, besides chemicals and pharmaceuticals—the traditional hybrid sectors—Solvay also has plastics and processing as serious strategic units. And despite the current business fashion for pure-play, focused companies, Michielsen sees no current need for Solvay to divest or split off any of the sectors. Instead, he says, there are three crucial goals for Solvay: market leadership, increasing emphasis on specialties in the chemical side of the company, and growth in pharmaceuticals. If you analyze the situation, he argues, most groups are hybrids—not many companies concentrate on just one sector. Even nonhybrid companies have a number of divisions. And for Solvay, he says, the important thing is ...
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