Evonik: Sale of Global Colorants Business
Evonik Industries AG, Essen, Germany, has entered into an agreement to sell its global colorants business to the U.S. private investment firm Arsenal Capital Partners, New York. It was agreed not to disclose the financial terms. The transaction is expected to be closed in April 2012 following the approval of Evonik’s Supervisory Board and the relevant regulatory authorities.
Evonik’s colorants business develops, produces and markets colorant systems for decorative coatings under the trademark Colortrend. Its Chroma-Chem products are used for industrial applications including maintenance, marine and wood coatings. In 2011 the colorants business generated sales of around EUR 130 million. With a global setup the colorants business employs more than 300 people in their production sites and laboratories supported by sales and technical professionals. These facilities are located in the USA, Canada, Brazil, Australia, China, Malaysia, and the Netherlands.
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