Investor acquires entire site and associated cyanuric chloride business in Wesseling, Germany
The chemical site in Lülsdorf near Cologne now officially belongs to the International Chemical Investors Group (ICIG). The sale of the site, which was announced at the beginning of April, was completed on June 30 after the necessary approvals were obtained from the antitrust authorities, among others. Along with the Lülsdorf site, the associated cyanuric chloride business in Wesseling has also been transferred to ICIG.
The businesses were previously part of Evonik's Performance Materials Division. With their sale, Evonik has implemented the first step in divesting all three parts of the division. ICIG is taking over the more than 600 employees and all production facilities. Extensive protective rights have been agreed for employees.
Evonik had begun preparing for the sale in the fall of 2021. The preferred solution from the outset was to sell the site whole to a new owner. With ICIG, Evonik chose an experienced chemical investor with extensive expertise in site development. ICIG is already active with subsidiaries in the chlorine chemicals and specialty chemicals industries and plans to further expand the Lülsdorf site and the acquired businesses.
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