Evonik is about to divest this business

The TAA business (triacetoneaminederivatives) is part of Evonik's Specialty Additives division and has twoproduction sites worldwide, in Marl, Germany and Liaoyang, China, involvingabout 250 employees. As a leading global producer of TAA and its derivatives,Evonik offers a wide range of derivatives (e.g. hexamethylene-diacetonediamine,triacetonediamine) as well as customized molecules based on TAA.

   With the sale of the TAA derivatives business to SABO, Evonik said thecompany is taking the next step toward a portfolio focused on specialtychemicals. SABO, the Italian chemical company, is described as one of theworld's leading manufacturers of light stabilizers based on TAA derivatives,and Evonik did not disclose further details about the sale price of thebusiness, except to say that the transaction is subject to approval by Evonik'scompetent committee and that the project is expected to be completed by early2023.

   Christian Kullmann, chairman of Evonik's executive board, said: "Wewant to continue to achieve profitable growth in the specialty chemicalssector, which includes divesting businesses that no longer fit our strategicfocus, and we are therefore focusing our investment resources while makingthese businesses better positioned for the future under new ownership. "

   "We are handing over a strong business to an experiencedpartner," said Claudine Mollenkopf, head of the Specialty Additivesdivision. "The sale to SABO offers new opportunities for the future growthof the TAA business."

   TAA derivatives are considered an essential component in the productionof hindered amine light stabilizers (H.A.L.S.), and the resulting additives areused at low concentrations to protect and stabilize polymers from decompositionby light, oxygen and heat, and can significantly increase the service life ofplastics.TAA derivatives are used in many products, for example in theautomotive and construction industries and in the production of agriculturalfilms.

   Founded in 1937 and headquartered in Italy, SABO's businesses includepolymer additives, personal care, feed additives, industrial surfactants, andSABO is a leading supplier of polymer additives and one of the world's largestmanufacturers of light stabilizers (hindered amine light stabilizers), whoseproducts add value by extending the service life of plastic materials,providing special effects through surface modification and reducing value byextending the life of plastic materials, providing special effects throughsurface modification and reducing the consumption of natural resources.