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.
The 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