Evonik restructures carbon black unit: sell-off now more likely

ERJ staff report (DS)

Hanau, Germany -- Evonik has spun off its carbon black activity into a separate business. The move follows an announcement in February that the company was due to review the strategic future of the unit within Evonik.

On July 1, Evonik Carbon Black GmbH was founded as a legally independent management company under the umbrella of Evonik Industries. The operational headquarters of the company, currently in Frankfurt, will move to Hanau-Wolfgang on October 1. The product portfolio and the relationship to the customer will not be affected by the spin-off.

Evonik, the second largest manufacturer worldwide, produces carbon black at 17 sites in 12 countries on four continents. In the last fiscal year some 1,700 employees generated sales of about €1 billion.

Evonik is currently examining three strategic options to develop its business further. The possibilities extend from optimisation as an independent market unit, through a partnership solution, to sale of the business. One of these three options will be decided upon before the end of the second half of the year.

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Press release from Evonik