Evonik Industries announced a reorganization of its carbon black activities with the launch of Evonik Carbon Black GmbH, an independent management company operating under the umbrella of Evonik Industries.
The new unit is headed by chairman and CEO Jack Clem, with Rainer Wobbe appointed chief financial officer.
The company’s headquarters, currently in Frankfurt, Germany, will move to Hanau-Wolfgang, Germany, on Oct. 1. The product portfolio and customer relationships will not be affected by the spinoff, the company said.
Evonik said it is the second-largest carbon-black manufacturer worldwide, with production at 17 sites in 12 countries on four continents, and annual sales of approximately 1 billion euros.
Evonik said it is currently examining three strategic options for additional business development: optimization as an independent market unit, a partnership solution, or sale of the business. “One of these three options will be decided upon before the end of the second half of the year,” the company said in announcing the spinoff.
Carbon black is used as a pigment in coatings, plastics, and colorants. The primary market for the product is the rubber and tire industry.