Evonik to sell US Jayhawk site to Permira as it shifts focus to specialty chemicals

Evonik to sell US Jayhawk site to Permira as it shifts focus to specialty chemicals

Evonik has announced plans to divest its US Jayhawk site in Kansas in order to allow greater focus on specialty chemicals. The site produced precursors for agrochemicals.

“We want to continue growing profitably in the specialty chemicals sector,” said Christian Kullman, Evonik Executive Board Chairman. “This also means giving up businesses or sites if a different owner can offer the business better future perspectives. The sale is a further step towards optimizing our portfolio and it opens up new opportunities for us in the targeted development of our growth engines.”

Funds advise by international investment firm Permira will acquire the site, company and 120 employees under a share deal. The sale price was not disclosed other than an admission that it was ‘in the high double-digit million-dollar range’. The transaction is subject to approval by multiple anti-trust authorities.

1 Comment

  1. Speciality chemicals is Evonik`s core competence. This sale makes sense, freeing more
    funds for the company to grow its business in new technologies and in emerging markets.

    Reply

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