Evonik sells TAA derivatives business to Sabo

German specialty chemicals Evonik has sold its TAA derivatives business to Italy-based light stabilizer maker Sabo for an undisclosed price.

“We want to continue our profitable growth in specialty chemicals,” Christian Kullmann, chairman of the executive board of Evonik, said in a statement. “That includes divesting businesses that do not longer fit to our strategic focus. We are thus concentrating our investment resources and at the same time enabling these businesses to better develop the future under new ownership.”

The TAA business is part of Evonik’s specialty additives division. Around 250 people are working at the two production sites in Marl, Germany, and Liaoyang, China.

TAA derivatives are essential precursors to produce light stabilizers. The resulting additives are used in low concentrations to protect and stabilize polymers against decomposition by light, oxygen, and heat, and can significantly increase the service life of plastics. The TAA derivatives are used in many products, for example in the automotive and construction industries and in the production of agricultural films.

The transaction is expected to close in early 2023.