Evonik completed the sale of its chemical site in Lülsdorf, Germany, near Cologne, to the International Chemical Investors Group (ICIG) on June 30, after obtaining the necessary approvals from antitrust authorities and others. Evonik’s cyanuric chloride business in Wesseling has also been transferred to ICIG.
The businesses were previously part of Evonik’s Performance Materials Division. This sale is the first step Evonik has taken in divesting all three parts of the division. Reportedly, ICIG will retain the more than 600 employees affected by the sale and all production facilities, and protective rights for employees have been agreed upon.
Evonik says that it chose to sell to ICIG for that company’s experience as a chemical investor and expertise in site development. According to Evonik, ICIG is already active with subsidiaries in the chlorine chemicals and specialty chemicals industries and plans to further expand the Lülsdorf site and the acquired businesses.