Evonik Industries AG has announced that it is seeking the “best owner” for its methacrylate business, which is being established as an independent entity.
The Essen, Germany-based chemical specialties made the announcement by revealing plans to further expand their methacrylate crosslinker production capacity by establishing a unit in the US.
Once completed, the project will allow Evonik to provide crosslinker customers at its plants in the US, Germany and China.
The move, Evonik said, would develop the strengths of the methacrylate business, including market positions, strong brands, technologies and network structures.
“The goal is to find a new owner who will invest in the long-term growth of the methacrylate business ensuring a bright and successful future,” Evonik noted.
The “one-digit-million euro” investment in Mobile, Alabama, includes the creation of a new production unit for the cross-linkers, marketed under the Visiomer brand.
Start-up is scheduled for the third quarter of the year.
“We will significantly improve our flexibility and responsiveness to the benefit of our customers in the US,” said Grant Lafontaine, general manager of bulk monomers and applications product lines in the US.
Evonik visiomer crosslinkers are used in applications such as paints and coatings, composites and plastics. In the final product, they can improve chemical resistance or technical hardness, among others.
