- Remaining 50percent acquired
- Strengthening of carbon black activities in the U.S.
Evonik Industries has acquired the remaining 50percent shares in its former carbon black Joint Venture Degussa Engineered Carbons (DEC) effectively October 29, 2007 from ECI. DEC will now be a 100percent owned subsidiary of Evonik. Financial details of the transaction will not be disclosed. Closing has occurred.
“Carbon black is one of our strategic growth areas that we are systematically expanding. This transaction underlines Evonik’s commitment in the North American market and will add significant value to our Group,” said Dr. Klaus Engel, Member of the Management Board of Evonik and responsible for the Chemicals business area. Thomas Hermann, head of Evonik’s Advanced Fillers & Pigments Business Unit, commented: “The acquisition is an important step to consolidate our position in one of our key strategic markets, and will help us to serve our global key accounts even better.”
In 2002 Evonik and ECI formed the joint venture to combine their carbon black businesses in North America. DEC is headquartered in Parsippany, New Jersey/U.S., and produces and markets furnace grade carbon blacks for the rubber and pigment industries in North America and thermal blacks worldwide.
DEC is one of the activities of Evonik’s Business Unit Advanced Fillers & Pigments which is present globally in 30 production locations in 18 countries on five continents. Evonik is the only one-stop-shop supplier of carbon black, rubber silicas and rubber silanes. This makes the Advanced Fillers & Pigments Business Unit one of the highest performing system providers for the rubber-processing industry. The business unit’s entire product range also offers tailor-made solutions to manufacturers of dyes, enamels, and printing inks, and to the plastics industry.
Evonik Industries is the creative industrial group from Germany which operates in three business areas: Chemicals, Energy and Real Estate. Evonik is a global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our strengths are creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2006 more than 43,000 employees generated sales of about Euro 14.8 billion and an operating profit (EBIT) of over Euro 1.2 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.