Evonik Establishes Independent Carbon Black Company
A reorganisation of Evonik’s carbon black activities has led to the founding of Evonik Carbon Black GmbH as a legally independent management company under the umbrella of Evonik Industries. The new company came into being on July 1 with Jack Clem in the position of CEO and Rainer Wobbe serving as CFO. The company’s operational headquarters is currently located in Frankfurt, Germany, however it will move to the city of Hanau on October 1. Evonik says the existing carbon black product portfolio and customer relationships will not be affected by the spin-off.
Having spun off the carbon black unit, Evonik states it is currently examining three strategic options to develop its business further. The options include optimisation as an independent market unit, a partnership solution, and the unit’s sale. One of these three options will be decided upon before the end of the second half of 2010. Evonik Carbon Black GmbH is the world’s second-largest producer of carbon black, producing the commodity at 17 sites in 12 countries on four continents.