Evonik has decided to retain its specialty monomers division following the anticipated divestment of its methyl methacrylate (MMA) and polymethyl methacrylate (PMMA) business units, according to a letter to customers seen by ICIS on Tuesday.
Evonik MMA plant ShanghaiThe company announced in March this year that it is considering spinning off the divisions, with any potential sale potentially fetching a price tag of €1.8bn, according to market analysts.
The specialty monomers division had been expected to be part of the carve-out.
“Evonik’s experience has shown that its specialty methacrylates and its oil additives businesses complement each other,” said the producer.
“The group [with branded name] Visiomer specialty monomers from the Application Monomers product line will be integrated into the Evonik Resource Efficiency segment.”
Evonik’s delivery obligations remain in place, it told its customers.
By Katherine Sale
Source: ICIS News
Neste is announcing the conclusion of its first series of trials into processing liquefied waste plastic with chemical recycling technology at its Porvoo refinery in Finland. The oil refining company says it has processed about 800 tons of liquefied waste plastic over the last two years – roughly the same amount generated annually by a European city with 500,000 people.
Sika performed well in a challenging environment in 2021. Despite the persistent COVID-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies.
Ineos Olefins and Polymers Europe is joining the pioneering polypropylene (PP) recycling project Nextloopp, supporting its delivery of food-grade recycled content. The chemicals company will orchestrate a pivotal two-year project that will inform the building of a demonstration plant in the UK to produce 10,000 metric tons of recycled polypropylene (rPP) annually.
