Evonik has agreed to sell its site at Niederkassel-Lülsdorf, Germany, and the associated cyanuric chloride business at Wesseling to International Chemical Investors Group (ICIG). Terms were not disclosed and the deal is scheduled to close in mid-2023, subject to regulatory clearance and approval by the competent Evonik committees. The businesses being divested had sales of around €260 million in 2022.

Evonik has announced that it intends to divest its site in Lülsdorf, south of Cologne in Germany, and will draw up more detailed plans by spring 2022. The company would prefer an outright transfer to a single owner but will consider selling it in parts.

Christian Kullmann, chairman of the executive board, said: “With our focus on high-margin speciality chemicals, further development of the site doesn’t make sense for us”. Some potential investors have already expressed interest.