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February 21, 2013

Grupo Idesa and CyPlus enter joint venture to build sodium cyanide plant in Mexico

Grupo Idesa S.A de C.V. (Mexico) and CyPlus GmbH (Germany), a 100-percent subsidiary of Evonik Industries AG are close to signing a joint venture agreement for the construction of a sodium cyanide plant in Coatzacoalcos, Mexico. Equipped with Evonik’s state-of-the-art technologies and with a production capacity for 40,000 metric tons, the planned facility is expected to go on stream in the first quarter of 2015.

Mexico’s economy has been growing steadily over recent years and the mining industry in particular is expected to continue to experience excellent growth rates. The gold and silver mining industry is the world’s main cyanide consumer. Sodium cyanide is the most efficient and cost-effective agent for the extraction of these metals. The joint venture’s new sodium cyanide plant will support the growth of the mining industry by providing reliable supplies.

The Mexican plant will be certified according to the International Cyanide Management Code (ICMC). With this Code the gold mining industry, cyanide producers, and logistic companies around the world commit to high and uniform standards in safety and environmental protection regarding the use and handling of cyanides.

Companies’ information

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Evonik benefits specifically from its innovative processes and integrated technology platforms. Evonik is active in over 100 countries around the world. In the fiscal year 2011 more than 33,000 employees generated sales of around €14.5 billion and an operating profit (adjusted EBITDA) of about €2.8 billion.

CyPlus is a leading company in cyanides. The Evonik subsidiary provides innovative products, technologies and services to customers in the mining, chemical, pharmaceutical and surface treatment industries. The company meets the extensive and strict requirements of the international mining industry as a supplier of cyanides in accordance with the provisions of the "International Cyanide Management Code" (ICMC). Production sites in Europe and sales and distribution offices on all continents provide customers swift and reliable service. CyPlus is considered a pacesetter in progress and sustainability.

Grupo Idesa, one of the major business groups in Mexico, since more than 50 years ago it offers different products and services that are part of the daily living. Grupo Idesa is integrated by four business areas — Petrochemicals, Distribution, Logistics, Construction Systems and Coating Businesses — with national presence and international reach. The company employs more than 1,400 people. In 2010 Grupo Idesa and Brazilian petrochemical Braskem signed with Mexican state-owned petroleum company, Pemex, an investment and ethane supply agreement for the “Ethylene XXI” project in Veracruz, Mexico. The project will require a $4.5 billion US dollar investment form Idesa and Braskem. Grupo Idesa was founded in 1956 and has its headquarters in Mexico City.

Disclaimer: 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.