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July 12th, 2010
Evonik Carbon Black GmbH established
Evonik Industries establishes Evonik Carbon Black GmbH as independent company
Evonik Industries announced today that it is reorganizing its carbon black activities. Earlier this month Evonik Carbon Black GmbH was founded as a legally independent management company under the umbrella of Evonik Industries. Jack Clem has been named CEO and Rainer Wobbe CFO. The operational headquarters of the company, currently located in Frankfurt, is scheduled to move to Hanau-Wolfgang on October 1. Evonik said that the product portfolio and the relationships to the customers will not be affected by the spin-off.
As the second largest manufacturer of carbon black worldwide, Evonik has manufacturing facilities at 17 sites in 12 countries on four continents. Sales amounted to ca. EUR 1 bn during the last fiscal year. The business has ca. 1,700 employees. The products are used mainly as reinforcing fillers in the rubber industry (for tires and industrial rubber goods) and as pigment blacks in plastics, specialty coatings, and colorants, to name just a few applications.
Following the spin-off, Evonik is currently examining three strategic options to develop the business further. This could be the optimization as an independent company in the market, a partnership solution, or the outright sale of the business. A decision on which option to implement is envisioned to be taken within the next six months.
Source: Evonik web-site http://corporate.evonik.com/en/media/press_releases/pages/newsdetails.aspx?newsid=13348
HGE-DCG / July 2010