Evonik to sell performance materials businesses

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.