FRANKFURT, Germany (July 12, 2010)—Evonik Industries A.G., the world's second-largest carbon black producer, said it may sell that business after spinning off the operations into a newly created, independent company, Evonik Carbon Black GmbH.
The specialty chemicals producer said it will decide what to do with the business before the end of year. Its strategic choices, the firm said, are to sell the business, run it as an independent operation or pursue a joint venture.
The company is moving Evonik Carbon Black's headquarters to Hanau-Wolfgang, Germany, from Frankfurt by Oct. 1. Jack Clem was named chairman of the firm, and Rainer Wobbe chief financial officer.
The move follows an announcement in February that the company planned to review the strategic future of the unit within Evonik.
Evonik, the second largest manufacturer worldwide, produces carbon black at 17 sites in 12 countries on four continents. In the last fiscal year some 1,700.