Evonik Expanding Crosslinker Capacity
German specialty chemicals producer Evonik is expanding its production capacity for methacrylate crosslinkers, sold under the Visiomer brand name, at its US complex in Mobile, Alabama. It said it is investing a “low single-digit million euro sum in the expansion, which is scheduled to be in place by this year’s third quarter.
Following the expansion, Evonik will be able to supply the crosslinkers from plants in the US, Germany and China. The new US investment will “significantly improve” its flexibility and responsiveness for the products there, the company added.
Crosslinkers are used in applications such as paints and coatings, composites and plastics to improve chemical resistance or technical rigidity, for example.
Evonik has now officially put its methacrylates portfolio, with sales of around €1.5 billion and 3,700 employees, on the sale block. Analysts calculate that it could fetch as much as €1.8 billion. Given the size of the business and the price, it is unclear who potential buyers might be.
To facilitate the divestment, the business is being spun off into a separate company.
The German producer is regarded as world’s number two player in both monomer and polymer, with MMA capacity of an estimated 600,000 t/y. The PMMA portfolio encompasses acrylic sheet and molding compounds marketed under the “Plexiglas” trademark.
