Evonik has concluded the divestment of its triacetonamine (TAA) derivatives business to Italian chemical company Sabo, said the German chemicals company.
Financial details were not disclosed. The deal had been announced in October.
Production sites in Marl, Germany and Liaoyang, China as well as 250 employees were included in the transaction.
TAA derivatives are a key raw material to produce light stabilisers, with the additives used in low concentration to protect and stabilise polymers against decomposing due to light, heat, or oxygen exposure, and can significantly increase the lifespan of plastics.
The materials are used in applications in a variety of end-use segments, including the automotive and construction industries, as well as in the production of agricultural films.
“We want to continue our profitable growth in the specialty chemicals businesses. And that includes divesting businesses that do not longer fit to our strategic focus and that could have a better future with new owners,” said Evonik’s chairman, Christian Kullmann.
We remind, Evonik has started manufacturing commercial quantities of ceramides - a special class of lipids - at its site in Dossenheim near Heidelberg in Germany. Maximizing capacity utilization at the Dossenheim site provides Evonik with further flexibility and supply security, including increased independence from alternative routes of supply, to cater to the growing demand for ceramides in the personal care market.
mrchub.com