Evonik sell 2 businesses Japanese firm, Kaneka

Evonik to sell 2 businesses to Japanese firm, Kaneka

2:43 PM, 27th June 2011
Evonik to sell 2 businesses to Japanese firm, Kaneka

ESSEN, GERMANY: Evonik Industries will sell its acrylate-based plastic additives and plastisols business, including two production plants in Wesseling, Germany to,  Kaneka Corporation, a Japanese chemical company. The transaction will affect some 30 employees at the Wesseling site, who will be offered to stay on, and is pending approval by the anti-trust authorities. Both parties have agreed not to disclose the selling price. The plastic additives produced in Wesseling are used as processing aids or impact modifiers for PVC and engineering plastics. Plastisols are used in the automotive industry as a PVC substitute for underbody protection and as sealants.

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