As part of the reorganization of two business units, the two plastics divisions are to be sold to new owners.
 

The Coating & Adhesive Resins and Health Care business units are to be focused on their respective core businesses in order to concentrate investments on these in the future, according to a statement from the specialty chemicals company. Various solutions are to be implemented for businesses outside of these core areas. According to Evonik, the plan is to sell the majority of these businesses to new owners or incorporate them into partnerships. In some cases, businesses will be closed in a socially responsible manner, the statement said. Overall, the company is looking for buyers for businesses with a turnover of 350 million euros by the end of 2024. The sale plans also affect the polyester business for coatings and adhesives applications, which reportedly includes around 330 employees in Germany and China and accounts for annual sales of around 150 million euros. The largest site, with around 250 employees, is in Witten in North Rhine-Westphalia, it is said. In addition, Evonik operates a smaller plant in Shanghai with around 30 employees. “The technological expertise of our polyester business is extensive,” says Lauren Kjeldsen, head of the responsible division, Smart Materials. ”But to be successful in the global competition in the long term and to generate the necessary margins, investments are needed – and these can be better realized by other companies for which polyester is a core business than by us.” The existing polyolefin business of the Coating & Adhesive Resins business line, with sales of around 100 million euros, is to be transferred within Evonik to the C4 Chemistry unit and sold as part of this unit in the future. The core areas of liquid polybutadienes as additives for adhesives, sealants, tires and specialty acrylates for medical technology and the packaging industry are to be retained.
 
Sources:

• Press release Evonik (10/11/2024)
• Photo: © Evonik AG (Witten plant)