Germany – Evonik has completed the sale of its superabsorbents business unit to the International Chemical Investors Group (ICIG). The division generated sales of €892 million in 2023 and has around 1,000 employees. It includes three locations in Germany and two in the United States.
The unit is the second of a total of three parts of the Performance Materials division that Evonik has put up for sale. Following the divestment of the Lülsdorf site and its associated businesses (also to ICIG) and the sale of the superabsorbent unit, the Performance Intermediates business line will remain. Here, Evonik is sounding out the market situation for a possible start of the sales process.
’We want to clearly focus our portfolio on high-margin businesses with low fluctuations that drive the green transformation of the economy,’ says Christian Kullmann, Chairman of the Executive Board of Evonik.
ICIG is an chemical investor based in Frankfurt am Main. Together with the superabsorbent activities, the Group now generates annual sales of well over €4 billion at around 50 locations worldwide and with more than 7,800 employees.
