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September 02, 2024

Evonik and ICIG complete sale of superabsorbents business

  • ICIG takes over production facilities at five locations in Germany and the United States
  • Around 1,000 employees with a new owner as from September 1, 2024
  • Sales proceeds to support investments in green transformation of Evonik

Essen, Germany. Evonik has successfully completed the sale of its superabsorbents business unit to the International Chemical Investors Group (ICIG). The closing of the transaction took place on August 31, 2024, following approval by the competition authorities. Superabsorbents are powdered polymers that are used as absorbent materials in diapers and other hygiene products. The division generated sales of €892 million in 2023 and has around 1,000 employees. It includes three locations in Germany and two in the United States. 

The unit is the second of a total of three parts of the Performance Materials division that Evonik has put up for sale. Following the divestment of the Lülsdorf site and its associated businesses (also to ICIG) and the sale of the superabsorbent unit, only the former Performance Intermediates business line is left. Here, Evonik is currently sounding out the market situation for a possible start of the sales process. 

"We want to clearly focus our portfolio on high-margin businesses with low volatility that drive the green transformation of the economy," says Christian Kullmann, Chairman of the Executive Board of Evonik. "We are consistently pursuing this path in a socially responsible way, especially with regard to our employees." 

ICIG is an experienced chemical investor based in Frankfurt am Main. Together with the superabsorbent activities, the Group now generates annual sales of well over €4 billion at around 50 locations worldwide and with more than 7,800 employees. 

"We are pleased to now include superabsorbents as a new platform in ICIG and warmly welcome all employees," says Dr. Achim Riemann, Chairman of the Supervisory Board of ICIG. "The acquisition is part of our expansion course, which we will continue to pursue through internal and external growth."

About Evonik

Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €15.3 billion and an operating profit (adjusted EBITDA) of €1.66 billion in 2023. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. About 32,000 employees work together for a common purpose: We want to improve life today and tomorrow.

Company Information ICIG

International Chemical Investors Group is a privately owned industrial group with a total turnover of more than €4.6 billion. ICIG focuses on several main platforms: Fine Chemicals under the WeylChem brand, Care Chemicals (Catexel), Chlorovinyls (Vynova), Compounds (Benvic), Hydrocarbons & Solvents (HCS Group) and Enterprises with specialized businesses in sodium metals, industrial drying services, fermentation products, viscose filaments, activated carbon and wood protection chemicals. Today, the ICIG companies employ more than 6,200 people and operate more than 42 production sites in Europe and the U.S.

Disclaimer

In so far as forecasts or expectations are expressed in this release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.