Focus on Speciality Chemicals Evonik and Sabo Conclude Sale of TAA Derivatives Business

Source: Evonik Reading Time: 1 min |

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Italian chemical company Sabo acquired Evonik’s two TAA production sites in Marl, Germany and Liaoyang, China, as of January 1, 2023. Around 250 employees have been transfered to new owner.

With the sale of the TAA derivatives business, Evonik intends to further strengthen its focus on specialty chemicals.
With the sale of the TAA derivatives business, Evonik intends to further strengthen its focus on specialty chemicals.
(Source: Evonik)

With the sale of its TAA derivatives business to Sabo, Evonik is taking the next step in focusing its portfolio on specialty chemicals.

The Italian chemical company is one of the world's leading manufacturers of light stabilizers, for which TAA derivatives are a raw material. On the sales price, no details are disclosed. The transaction was announced in mid-October, and the closing took place on December 29, 2022.

“We want to continue our profitable growth in the specialty chemicals businesses,” says Christian Kullmann, Chairman of the Executive Board of Evonik. “And that includes divesting businesses that do not longer fit to our strategic focus and that could have a better future with new owners.” The TAA business was part of Evonik's Specialty Additives Division.

According to Germano Peverelli, CEO and Chairman of the Board of Sabo, the addition of new cutting-edge technologies, proprietary processes, and integration of production assets in Germany, China and Italy will consolidate the company’s manufacturing position.

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