DATE:2018-03-06
German specialty chemicals company Evonik Industries AG (EVK.DE) said Tuesday that its Board would evaluate all options for the future development of the methacrylates business. The options also include potential partnerships and complete divestment, the group noted.
Evonik said it is evaluating these options as part of its ongoing development of its portfolio and that it is concentrating on its four growth engines- health & care, smart materials, specialty additives, and animal nutrition.
The methacrylates business, which is part of the Performance Materials segment, is outside Evonik's defined growth areas, and comprises high-volume monomers such as MMA, various specialty monomers as well as the PLEXIGLAS brand of PMMA molding compounds and semi-finished products. These products are manufactured at various locations in Germany, North America and Asia.
In 2017, Evonik generated around 40 percent of the sales of the Performance Materials segment with its methacrylates business.
Source RTTNews