Evonik Acquires all Interests in Degussa Engineered Carbons
Strengthening of carbon black activities in the U.S.
Evonik Industries has acquired the remaining 50percent shares in its former Carbon Black Joint Venture Degussa Engineered Carbons (DEC) effectively October 29, 2007 from ECI. DEC will now be a 100 percent owned subsidiary of Evonik. Financial details of the transaction will not be disclosed. Closing has occurred.
"Carbon black is one of our strategic growth areas that we are systematically expanding. This transaction underlines Evonik's commitment in the North American market and will add significant value to our Group," said Dr. Klaus Engel, Member of the Management Board of Evonik and responsible for the Chemicals business area. Thomas Hermann, head of Evonik's Advanced Fillers & Pigments Business Unit, commented: "The acquisition is an important step to consolidate our position in one of our key strategic markets, and will help us to serve our global key accounts even better."
In 2002 Evonik and ECI formed the joint venture to combine their carbon black businesses in North America. DEC is headquartered in Parsippany, New Jersey/U.S., and produces and markets furnace grade carbon blacks for the rubber and pigment industries in North America and thermal blacks worldwide.
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