Evonik sells DILAVEST® business to Paramelt
On September 1, 2011, Evonik Industries and Paramelt B.V. signed an agreement on the sale of the DILAVEST® expansion wax business to Paramelt.
DILAVEST® expansion waxes are used in thermostatic control devices for automotive, marine and aerospace engines as well as building heating and cooling systems.
Paramelt takes over the business with immediate effect and will invest in a state-of-the-art plant for the production of the DILAVEST® product line. Evonik will remain producing the products until mid 2012.
Both companies agreed not to disclose information on the terms of the transaction.
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. In 2010 about 80 percent of the Group’s chemicals sales came from activities where it ranks among the market leaders. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBITDA) of about €2.4 billion.
Paramelt is a leading industrial wax producer. Paramelt was founded in 1898 and is headquartered in Heerhugowaard, The Netherlands. The company has R&D and production facilities in The Netherlands, United States and China. Paramelt is a manufacturer of specialty wax blends for investment casting, tire and rubber modification, flexible packaging, cheese coatings, chewing gum and cosmetics. Paramelt’s global revenue is €200 million and employs 380 people. Paramelt also manufactures adhesives and aqueous dispersions. More information about the company can be found on www.paramelt.com.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.