Evonik acquires remaining shares of Chinese Degussa Lynchem

– Evonik Industries has acquired the remaining 49 percent of its former joint venture Degussa Lynchem, Dalian, China, from the Chinese shareholders Yuncai Wang and Jingkun Wang. By this transaction Degussa Lynchem has become a wholly owned subsidiary of Evonik. The shares are held through Evonik Degussa China. The joint venture between Evonik and its Chinese partners was established in 2006 by the purchase of a 51 percent stake in Lynchem in Dalian, China. “In taking over the remaining shares, we are strengthening our global Exclusive Synthesis business and further expanding it in line with our successful concept of horizontal integration,” says
Dr. Alfred Oberholz, member of the Executive Board of Evonik Industries with responsibility for the Chemicals Business Area. Evonik is the first European supplier to have implemented the concept of horizontal integration in exclusive synthesis. This allows for intermediates and starting materials,
as well as active ingredients
that are not patent protected,
to be produced at competitive cost in China. At its European sites Evonik concentrates on refined intermediates and patent-protected active ingredients.