Evonik exits TAA derivatives
Evonik has completed the previously announced sale of its TAA derivatives business from its Specialty Additives division to Italian firm Sabo. The company said that it in doing this it was “taking the next step in focusing its portfolio on speciality chemicals”, by divesting a business that did not fit in with this strategic focus. TAA derivatives are essential precursors to light stabilisers.
Sabo has thus acquired two production sites in Marl, Germany and Liaoyang, China. CEO Germano Peverelli said that the deal “propels Sabo into a new phase of growth. The addition of new cutting-edge technologies, proprietary processes and integration of production assets in Germany, China and Italy will consolidate our manufacturing position.”