Germany's Evonik acquires hanse chemie group

30 March 2011 11:54  [Source: ICIS news]

LONDON (ICIS)--Evonik has agreed to buy the hanse chemie group, the Germany-based specialty chemical company said on Wednesday.

The group is based in Geesthacht, Germany, and includes the businesses hanse chemie and nanoresins. 

Evonik said it has closed a purchase agreement to acquire the group and added that the sale is subject to the approval of corporate bodies.

Both parties declined to disclose the purchase price.

The hanse chemie group produces components and raw materials for the manufacture of sealants and adhesives, moulding and casting compounds.

Evonik said acquiring the group was a great way to add silicone-based products its current activities. 

On Tuesday, Evonik announced plans to build a 60,000 tonne/year catalysts plant in Argentina to manufacture biodiesel.

For more on Evonik visit ICIS company intelligence

By: Tanzeel Akhtar
+44 208 652 3214

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