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Speyside to acquire Initiators Group from Evonik
17
May '08
Evonik Industries AG has signed an agreement for the sale of the Initiators Group to the U.S. investor Speyside Equity LLC for an undisclosed purchase price.

Pending the approval of Evonik's Supervisory Board and the responsible antitrust authorities, the completion of the divestment transaction is expected for the second quarter of 2008.

The transaction includes the entire Initiators Group, with plants, amongst others, in Pullach, Germany and Elyria, Ohio, USA.

The business headquarters of the group will remain at the largest site: Pullach. Speyside Equity plans to continue the existing strategy.

The activities of the Initiators Group focuses on the production and marketing of organic peroxides and persulfates for manufacturing and processing polymers and for specialty applications, including those in the cosmetics industry. In 2007, the Initiators Group employed some 600 people worldwide.

Evonik Industries AG

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