Evonik completes sale of triacetonamine derivatives business to SABO S.p.A. ? Evonik has announced the closure of the deal to sell its triacetonamine (TAA) derivatives business Italian chemicals firm, Sabo. ? TAA derivatives are essential precursors to produce light stabilisers, of which SABO S.p.A. a leading global manufacturer. The transaction was announced in mid-October, and the closing took place on December 29, 2022. Financial details of the deal were not disclosed. ? “We want to continue our profitable growth in the specialty chemicals businesses. And that includes divesting businesses that do not longer fit to our strategic focus and that could have a better future with new owners,” said Mr. Christian Kullmann, Chairman of the Executive Board of Evonik. The TAA business was part of Evonik’s Specialty Additives Division. ? “The acquisition of the TAA business from Evonik propels Sabo into a new phase of growth. The addition of new cutting-edge technologies, proprietary processes, and integration of production assets in Germany, China and Italy will consolidate our manufacturing position, to the benefit of our current and future customers and our employees,” stated Mr. Germano Peverelli, CEO and Chairman of the Board of Sabo. ? Follow Chemical Weekly page for regular industry updates ? Subscribe to Chemical Weekly magazine: https://lnkd.in/g3S4ZSu9 ? Chemical Weekly is the official media partner for ChemExpo India 2023 (Apr 18-19, Mumbai). To know more visit www.chemexpoindia.com ? #chemicals #chemicalindustry #chemicalweekly #specialitychemicals #triacetonamine #TAA #derivatives #precursors #stabilisers #sale #stakesale #divesting #manufacturing #additives #specialityadditives www.chemicalweekly.com
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2 年Well done Germano