Evonik in TAA exit

Evonik has sold its TAA derivatives business to Italian chemical company Sabo, which claims to be one of the world's leading manufacturers of light stabilisers. Terms are not being disclosed and the sale is expected to close in early 2023. The sale is part of Evonik’s continuing strategy of focusing its portfolio on speciality chemicals and divesting businesses that no longer fit.

The TAA business, which is part of the Specialty Additives division, employs around 250 people at two sites in Marl, Germany (pictured), and Liaoyang in China. TAA derivatives are essential precursors for products used to protect and stabilise polymers against decomposition by light, oxygen and heat. Sabo said that by acquiring this business, it is strengthening its own backward integration in the light stabiliser market and its global footprint, through the acquisition of Liaoyang site.