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Business

Evonik to sell performance materials businesses

by Alexander H. Tullo
May 14, 2022 | A version of this story appeared in Volume 100, Issue 17

An Evonik plant in Marl, Germany.
Credit: Evonik Industries
This C4 chemistry plant in Marl, Germany, is among those that Evonik Industries seeks to sell.

As part of a strategy to focus on faster-growing and more sustainable businesses, Evonik Industries wants to divest the three businesses in its performance materials division. The unit had sales of $3.1 billion in 2021, about 20% of Evonik’s total. The firm put one of the businesses, superabsorbent polymers, on the block in late 2020. It will now dispose of the functional solutions and performance intermediates businesses, which make C4 chemicals, isononanol for plasticizers, the biodiesel catalyst sodium methylate, and other products. Evonik will emphasize businesses like nylon 12, used in 3D printing.

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