Evonik Concludes Sale of Superabsorbents Business to ICIG

Evonik has finalized the sale of its superabsorbents business unit to the International Chemical Investors Group (ICIG), marking a significant step in the company's strategic divestment plan. The transaction, completed on August 31, 2024, after receiving competition authority approvals, involves a business that generated €892 million in sales in 2023 and employs approximately 1,000 people. The superabsorbents unit, which produces essential absorbent materials for diapers and hygiene products, operates across five facilities, including three in Germany and two in the United States.

This sale marks the second divestment in Evonik's plan to sell off its Performance Materials division. The first was the sale of the Lülsdorf site and its associated businesses, also to ICIG. With the superabsorbents unit now divested, only the former Performance Intermediates business line remains. Evonik is currently assessing market conditions to potentially initiate the sales process for this remaining unit.

Christian Kullmann, Chairman of the Executive Board of Evonik, emphasizes that the company is strategically refining its portfolio to concentrate on high-margin businesses with stable performance, which are pivotal in advancing the green transformation of the economy. He underscores that while pursuing this focused approach, Evonik remains committed to ensuring the well-being of its employees throughout the transition.

ICIG, a seasoned chemical investor headquartered in Frankfurt am Main, has significantly expanded its operations by acquiring Evonik's superabsorbent business, bringing the Group's annual sales to well over €4 billion across approximately 50 locations globally, with a workforce exceeding 7,800 employees. Dr. Achim Riemann, Chairman of the Supervisory Board of ICIG, expressed his satisfaction with the addition of superabsorbents as a new platform within the Group and warmly welcomed the new employees. He highlighted that this acquisition aligns with ICIG's ongoing expansion strategy, which will continue through both internal development and further acquisitions.

Evonik is a global leader in specialty chemicals, operating in over 100 countries worldwide. With a strong financial performance, generating €15.3 billion in sales and €1.66 billion in operating profit in 2023, Evonik is committed to delivering innovative, profitable, and sustainable solutions for its customers. Our team of over 33,000 employees is dedicated to creating value and making a positive impact on the world.

Evonik's diverse product portfolio spans a wide range of industries, including healthcare, nutrition, electronics, and automotive. The company's expertise in specialty chemicals enables it to develop solutions that address complex challenges and meet the evolving needs of its customers.

Evonik is committed to sustainability and environmental responsibility. The company actively invests in research and development to develop innovative technologies that reduce environmental impact and promote resource efficiency. Additionally, Evonik is dedicated to fostering a culture of inclusivity and diversity, recognizing that a diverse workforce is essential for driving innovation and achieving long-term success.