Evonik's superabsorbents business is sold! Only remaining intermediates business line in the High Performance Materials Division

Evonik has successfully sold its superabsorbents business to International Chemical Investment Group (ICIG).

The transaction was completed on August 31, 2024, subject to approval by the competition authorities. Superabsorbents are powdered polymers used as absorbent materials in diapers and other hygiene products.

The business unit has sales of 892 million euros in 2023, has about 1,000 employees, and has three offices in Germany and two in the United States.

The superabsorbents business is the second of three business lines in the High Performance Materials Division that Evonik has sold. After the Rülsdorf business (also sold to ICIG) and the superabsorbents business, only the High Performance Intermediates business line remains. Evonik is testing the market in preparation for a possible launch of the sales process.

"We want to clearly focus our portfolio on highly profitable, low-volatility businesses that drive the green transition of the economy. We remain committed to this path without losing sight of the well-being of our employees," said Christian Kullmann, Chairman of the Executive Board of Evonik.

ICIG is an experienced chemical investor headquartered in Frankfurt, Germany. Together with the superabsorbents business, the Group now has more than 7,800 employees at around 50 locations worldwide and annual sales of more than €4 billion.

"We are pleased to now have superabsorbents as a new platform for ICIG and warmly welcome all employees," said Dr. Achim Riemann, Chairman of the Supervisory Board of ICIG. "This acquisition is part of our expansion plans, which we will continue to achieve through both internal and external growth."