Evonik Concludes Sale of TAA Derivatives Business to Sabo
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Evonik concluded the sale of its TAA derivatives business to Sabo, a manufacturer of light stabilizers that relies on TAA derivatives as a raw material. The Italian chemical company acquired the two production sites in Marl, Germany, and Liaoyang, China, as of January 1, 2023. The transaction was announced in mid-October, and the closing took place on December 29, 2022. Evonik says it is taking this step to focus its portfolio on specialty chemicals.
“We want to continue our profitable growth in the specialty chemicals businesses,” said Christian Kullmann, chairman of the executive board of Evonik. “And that includes divesting businesses that do not longer fit to our strategic focus and that could have a better future with new owners.”
“The acquisition of the TAA business from Evonik propels Sabo into a new phase of growth,” said Germano Peverelli, CEO and chairman of the board of Sabo S.p.A. “The addition of new cutting-edge technologies, proprietary processes, and integration of production assets in Germany, China, and Italy will consolidate our manufacturing position, to the benefit of our current and future customers and our employees.”
For more information, visit: https://corporate.evonik.com/en.
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