Evonik Completes First Step in Divestment of Performance Materials
Evonik is selling its site in Lülsdorf, Germany and the associated cyanuric chloride business in Wesseling, Germany to International Chemical Investors Group (ICIG, Luxembourg). The parties have agreed not to disclose the purchase price. Lülsdorf is a substantial part of the Functional Solutions business line within Evonik’s Performance Materials division. Transfer of ownership is scheduled for mid-2023. The closing of the transaction is subject to antitrust clearance and approval by the competent Evonik committees.
ICIG is an established Luxembourg-based chemicals investor. The company has approximately 4,800 employees and generated sales of around €4 billion last year. It has extensive expertise in the development of sites and business units that no longer are part of the core business of other enterprises.