Evonik successfully completed the sale of the business

On December 30, Evonik's official website announced that it completed the sale of triacetoneamine (TAA) derivatives to Italian chemical company SABO. This move marks a further step in the company's continued optimization of its product portfolio to focus on specialty chemicals.

With this acquisition, Italian chemicals company SABO will acquire two production sites of Evonik in Marl, Germany and Liaoyang, China, which will be officially closed on January 1, 2023. Around 250 employees will be transferred to the new employer.

TAA derivatives are core precursors in the production of light stabilizers, and Italian chemical company SABO is one of the world's leading manufacturers of light stabilizers. The exact amount of the acquisition is not disclosed. The transaction was announced in mid-October and officially closed on December 29, 2022.

"We want to continue to drive profitable growth in the Specialty Chemicals business and therefore need to divest businesses that do not match our current strategic focus," said Kullman, Chairman of Evonik. "The TAA derivatives business was part of Evonik's Specialty Additives business unit.

Germano Peverelli, Chairman and CEO of SABO, said: "The acquisition of Evonik's TAA business will propel SABO into a new phase of growth. New cutting-edge technologies, patented processes and the integration of production facilities in Germany, China and Italy will strengthen our manufacturing strengths for the benefit of our employees and customers. ”