Evonik sells its US Jayhawk site

Evonik is taking the next step in focusing on specialty chemicals with the divestment of its US Jayhawk site in Galena, Kansas.

The site produces precursors for agrochemicals, which are not included in the growth businesses defined by Evonik.

"We want to continue growing profitably in the speciality chemicals sector,” said Evonik Executive Board Chairman Christian Kullmann.

"This also means giving up businesses or sites if a different owner can offer the business better future perspectives.

"The sale is a further step towards optimising our portfolio and it opens up new opportunities for us in the targeted development of our growth engines.”

Jayhawk’s activities fall under the Agrochemicals & Polymer Additives business line in Evonik’s Performance Materials segment.

Under a share deal, funds advised by the international investment firm Permira will acquire the site along with the company and its approximately 120 employees.

The sale price is in the high double-digit million dollar range.

The transaction is subject to approval by antitrust authorities in several countries.