ESSEN, Germany–Chemicals company Evonik Industries A.G. is planning to sell its C4 Verbund business.
In a written statement to European Rubber Journal, the Essen-based supplier said the first steps in this process have just started. These include preparations for setting it the C4 business up as an independent unit.
The C4 Verbund, part of Evonik's Performance Materials division, contributed more than 10 percent of the group sales last year.
The German group reported net sales of about $3.4 billion during the first quarter of 2022.
Within its C4 business, Evonik manufactures performance intermediates and plasticisers for a range of industries, including automotive, tire and construction.
Among the many applications for the C4 unit's products are as monomers for synthetic elastomer and latex, including butadiene for rubber materials used in vehicle tires.