Germany's Evonik closes €900m sale of carbon black business

01 August 2011 11:06  [Source: ICIS news]

LONDON (ICIS)--Evonik Industries has completed the €900m ($1.30bn) sale of its carbon black business to private equity firms Rhone Capital and Triton Partners, the German specialty chemicals major said on Monday.

“This divestment shows that Evonik is continuing to focus systematically on its core specialty chemicals business,” said chairman of the executive board Klaus Engel.

“At the same time, we are pleased to transfer the carbon black business to a new owner who is able to realise promising growth perspectives,” he added.

Evonik Carbon Black was renamed upon transfer and now operates as Orion Engineered Carbons, Evonik said in a statement.

The business was acquired intact with around 1,650 employees, around 500 of whom are based in Germany.

The divestment process began in November 2010 and contracts were signed in April this year. The sale was cleared last month by the European Commission.

Carbon black is mainly used as a reinforcing filler in the rubber industry, for tyres and industrial rubber goods, and as a pigment in plastics, inks and specialty coatings.

($1 = €0.69)

For more on Evonik Industries visit ICIS company intelligence

By: Graeme Paterson
+44 20 8652 3214

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