Evonik to retain specialty monomers division after methacrylates divestment

25 September 2018 12:44 Source:ICIS News

LONDON (ICIS)--Evonik has decided to retain its specialty monomers division following the anticipated divestment of its methyl methacrylate (MMA) and polymethyl methacrylate (PMMA) business units, according to a letter to customers seen by ICIS on Tuesday.

Evonik MMA plant ShanghaiThe company announced in March this year that it is considering spinning off the divisions, with any potential sale potentially fetching a price tag of €1.8bn, according to market analysts.

The specialty monomers division had been expected to be part of the carve-out.

"Evonik's experience has shown that its specialty methacrylates and its oil additives businesses complement each other,” said the producer.

“The group [with branded name] Visiomer specialty monomers from the Application Monomers product line will be integrated into the Evonik Resource Efficiency segment."

Evonik's delivery obligations remain in place, it told its customers.

Pictured: Evonik's MMA plant in Shanghai
Source: Evonik

By Katherine Sale