In this edition of Material Thoughts, our look at news in the plastics and additives supply world, we report on Evonik's exit from carbon black, Cereplast green lighting a Turkish processor's supply, BASF racing to new XPS capacity and ColorMatrix pulling into its new R&D center.
First to Düsseldorf, Germany where plastics and chemicals supplier Evonik Industries announced it completed the divestment of its carbon black business on July 29, 2011. The new owners are equity investors Rhône Capital and Triton Partners. Including the assumption of certain obligations, the transaction is valued at more than €900 million ($1.3 billion). The carbon black business generated sales of around €1.2 billion in fiscal 2010.
The business has been acquired as a going concern with its 1650 employees. It was renamed upon transfer and now operates as Orion Engineered Carbons. Carbon black is used as reinforcement in rubber for tires but also sees use in thermoplastics in applications such as belts, hoses and gaskets. The leading supplier is Cabot Corp....