28 November 2008 20:24 [Source: ICIS news]
LONDON (ICIS news)--Evonik has sold its Seal Sands, UK, fine organics business to local management, the Germany-based specialty chemicals maker said on Friday.
Financial terms of the deal were not disclosed.
The management buyout team had established a new company, Fine Organics Limited. The buyout includes all former Evonik site assets, employees and on-going operations, Evonik said.
Fine Organics will continue to manufacture products for the market and for Evonik Degussa on a custom manufacturing basis, Evonik added.
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