Sabo has acquired two production sites from Evonik to manufacture light stabilisers.
The Italian chemical company Sabo has officially concluded the acquisition of the TAA derivatives business of Evonik, its production sites in Marl (Germany) and Liaoyang (China) and its 250 employees. TAA derivatives are a raw material used to manufacture light stabilisers for coatings and consumer goods.
The TAA business line was part of the Specialty Additives division of Evonik. The transaction was first announced in mid-October and the closing took place on 29th December 2022, effective from 1st January 2023. The details regarding the sales price have not been 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,” has stated Christian Kullmann, the Chairman of the Executive Board of Evonik.
“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”, has commented Germano Peverelli, the CEO and Chairman of the Board of Sabo.