{
  "docId": "019dd923-622b-71dc-a6db-0d51af2fde1a",
  "docSlug": "fa820bf52be5",
  "documentTitle": "Solvay SA (SOLB BB)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-04-03 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 35,
  "pageCount": 47,
  "prevPage": 34,
  "nextPage": 36,
  "slideType": "filler",
  "function": "filler",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "The slide uses a Sidney Harris cartoon to lighten the tone while describing a complex, residual business segment.",
  "elementsJson": [
    "headline_text",
    "photo",
    "paragraph"
  ],
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-0d51af2fde1a/35",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-0d51af2fde1a",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-0d51af2fde1a.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-0d51af2fde1a#slide-35",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "It is a hodgepodge of specialty chemicals that did not go to Syensqo as part of the spin-off.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-9628-5d202393a1a5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.5,
        "x": 0.25,
        "y": 0.18
      },
      "kind": "image",
      "text": "Cartoon by S. Harris about transmuting chemicals into polyester.",
      "attrs": null,
      "subkind": "illustration",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1bbf7055-3dff-4d2f-b14a-71511bdf2f3c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.5,
        "x": 0.25,
        "y": 0.18
      },
      "kind": "image",
      "text": "Cartoon by S. Harris about transmuting chemicals into polyester.",
      "attrs": null,
      "subkind": "illustration",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5d1d18d3-f6ab-484d-97bb-8f75fa2aa63a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.1,
        "y": 0.75
      },
      "kind": "paragraph",
      "text": "The cartoon says, “Better than changing lead into gold, I’ve transmuted dihydric alcohol and terephalic acid into polyester.” O.K. – I have no idea what those are either, but they certainly sound like special chems. Everyone still awake?",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "07112264-d4a5-4228-9c5e-e54d7748d606",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.8,
        "x": 0.1,
        "y": 0.5
      },
      "kind": "paragraph",
      "text": "Finally, we have the Special Chem segment. It is a hodgepodge of specialty chemicals that did not go to Syensqo as part of the spin-off. There is significant potential growth in rare earths used for auto catalysts and permanent magnets used in wind power and electric vehicles. This segment also produces elemental fluorine used as a cleaning agent in flat panel and photovoltaic production that is environmentally friendly. There are barium and strontium businesses for various industrial uses, and aluminum brazing solutions.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41d0cfc6-bfed-4246-a8e6-8bdf3265877c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.8,
        "x": 0.1,
        "y": 0.5
      },
      "kind": "paragraph",
      "text": "Finally, we have the Special Chem segment. It is a hodgepodge of specialty chemicals that did not go to Syensqo as part of the spin-off. There is significant potential growth in rare earths used for auto catalysts and permanent magnets used in wind power and electric vehicles. This segment also produces elemental fluorine used as a cleaning agent in flat panel and photovoltaic production that is environmentally friendly. There are barium and strontium businesses for various industrial uses, and aluminum brazing solutions.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5ddb2b58-f6cf-4965-8c50-1c03e25b9a74",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.1,
        "y": 0.75
      },
      "kind": "paragraph",
      "text": "The cartoon says, “Better than changing lead into gold, I’ve transmuted dihydric alcohol and terephalic acid into polyester.” O.K. – I have no idea what those are either, but they certainly sound like special chems. Everyone still awake?",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bd2b55bc-06d4-4ef1-8eca-0286fb691cfb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "BETTER THAN CHANGING LEAD INTO GOLD, I'VE TRANSMUTED DIHYDRIC ALCOHOL AND TEREPHALIC ACID INTO POLYESTER. — S. Harris",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-78b7-702e-9628-60dbc82f6693",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.1,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: www.CartoonStock.com.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "13363213-9f16-4746-b9cf-864632400461",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.1,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: www.CartoonStock.com.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "750d4581-546d-4d48-a3d7-488fa80bac8c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.35,
        "y": 0.13
      },
      "kind": "title",
      "text": "Special Chem",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "104ab29d-25f9-43a1-98a3-7109f08df660",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.35,
        "y": 0.13
      },
      "kind": "title",
      "text": "Special Chem",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4f816fd4-ed75-40d3-9657-89805054a176",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}