Sitech splits up and gets new owners

Chemcycling

The Netherlands – At the Limburg industrial and chemical complex Chemelot, Sitech, the primary service provider for the chemical sector, will be divided into two parts.

About 900 people work for Sitech and are responsible for the upkeep and modernisation of the on-site factories, safety, and the company fire brigade. After the split, the service branch, which has 850 people working for it, will be sold.

The split negotiations are “advanced,” according to Sitech CEO Marc Dassen, who also claims that the new owners will be revealed at the start of 2023. He would not yet divulge further information regarding the protracted and difficult bargaining process.

Sewage, water, and rail systems

In addition, Sitech owns a sizable water treatment facility at Chemelot as well as roads, sewers, and the train and rail infrastructure. This business unit has 50 people, and its annual revenue is around €100 million. A new, affluent shareholder is advantageous for this branch as well.

In terms of organization, Sitech, which reported a profit of €11.5 million last year, is a holdover from the DSM era. Six significant foreign stockholders who are also customers make up the business. It gets even more complicated as a result.

Dassen asserts that the new affluent shareholders will have an easier time than Sitech making the substantial investments required to shift to a more sustainable and energy-efficient society. The division also enables Sitech to provide his services outside of Chemelot.

Negotiations

With the unions, agreements have been reached about job guarantees for the next five years, including for the new owners. Additionally, Dassen anticipates working with the six shareholders and the works councils in the very near future. He claims that the negotiation process is difficult. “Decision-making requires unanimity. There are many businesses with headquarters abroad.

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