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Evonik to change structure, sell superabsorbents

During its 2023 results presentation, Evonik announced that it will establish a new organisational structure by the end of 2026. Under ‘Evonik Tailor Made’ it will eliminate administrative activities that do not directly support its businesses and bundle key tasks in the new structure.

ICIG buys two more

International Chemical Investors Group (ICIG), the owner of WeylChem and many other European assets, has acquired two more operations. The acquisition of HCS Group in June followed on from that of Organica Feinchemie in May. Terms were not disclosed in either deal.

Evonik sells site to ICIG

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.

ICIG acquires three more

International Chemical Investors (ICIG) has made a firm and binding offer to acquire sodium metal specialist Métaux Spéciaux (MSSA) from Nippon Soda. It has also completed the acquisitions of Inprotec from Paragon Partners and its minority co-shareholders, and of Benvic Group from Investindustrial Growth.

ICIG acquires Inprotec

International Chemical Investors Group (ICIG), the owner of WeylChem and various other chemical operations, has agreed to acquire Inprotec from Paragon Partners and its minority co-shareholders. The transaction is expected to close in November, subject to customary antitrust clearance.

CordenPharma changes hands

Private equity firm Atorg has agreed to acquire CDMO CordenPharma from International Chemical Investors Group (ICIG), subject to customary regulatory approvals. The founders, Patrick Schnitzer and Dr Achim Riemann, will also reinvest in the firm and CEO Michael Quirmbach remains in place.

CordenPharma for sale, reports claim

According to the German business newspaper Handelsblatt, the International Chemical Investors Group (ICIG) intends to sell CordenPharma. A valuation of around €3 billion has been cited. ICIG has, the paper said, has already had meetings with potential buyers and will send out information packs to them by the end January. Neither ICIG nor CordenPharma has made any comment.

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