Evonik establishes independent carbon black company

Evonik Industries is reorganizing its carbon black activities. On July 1, Evonik Carbon Black GmbH was founded as a legally independent management company under the umbrella of Evonik Industries. Chairman of the Board (CEO) is Jack Clem and Rainer Wobbe will take over the position of the Chief Financial Officer (CFO). The operational headquarters of the company, currently in Frankfurt, will move to Hanau-Wolfgang on October 1. The product portfolio and the relationship to the customer will not be affected by the spin-off. Evonik, the second largest manufacturer worldwide, produces carbon black at 17 sites in 12 countries on four continents. In the last fiscal year some 1,700 employees generated sales of about €1 billion.

Having spun off the carbon black business, Evonik is currently examining three strategic options to develop its business further. The possibilities extend from optimization as an independent market unit, through a partnership solution, to sale of the business. One of these three options will be decided upon before the end of the second half of the year.

Carbon blacks are used mainly as reinforcing fillers in the rubber industry (for tires and industrial rubber goods) and as pigment blacks in, for example, plastics, specialty coatings, and colorants.

More Information: www.evonik.com