ESSEN, Germany - Evonik Industries signed a contract on the sale of its business in acrylate-based plastic additives and plastisols, including two production plants in Wesseling, Germany. The Kaneka Corp., a Japanese chemical company, is the buyer. The transaction will affect some 30 employees at the Wesseling site, who will be offered to stay on, and is pending approval by anti-trust authorities. Both parties have agreed not to disclose the selling price.

The plastic additives produced in Wesseling are used as processing aids or impact modifiers for PVC and engineering plastics. Plastisols are used in the automotive industry as a PVC substitute for underbody protection and as sealants.