Orion Engineered Carbons Acquires Evonik and DEG Shares in Chinese Carbon Black JV
LUXEMBOURG - Orion Engineered Carbons S.A. (Orion) and Evonik Industries AG (Evonik) announced agreements on transactions where Orion will acquire Evonik’s 52 percent stake as well as Deutsche Investitions- und Entwicklungsgesellschaft mbH’s (DEG) 15 percent stake in Qingdao Evonik Chemical Co. Ltd. (QECC).
QECC is a joint venture established by Evonik, DEG and Jiaozhou Finance Investment Center (JFIC) in 1994 and is based in Qingdao, China. It has production capacity of approximately 75 thousand metric tons of carbon black per annum. The plant is equipped with three production lines, and its main manufacturing focus is on high-end carbon black products. Through its proximity to key customers, connection to one of China’s largest ports and modern transportation infrastructure, the Qingdao facility is an excellent logistics base for participation in future market growth.