Specialty chemicals firm Evonik revealed plans Friday to divest its basic chemicals manufacturing site in Lülsdorf, Germany. A company release detailed that a search is underway for a new owner for the entire facility, but Evonik is also mulling options to sell parts of the business.
“Lülsdorf has proven to be a good location for basic chemicals for decades,” Christian Kullmann, chairman of the firm’s executive board, said in a statement. “However, with our focus on higher-margin specialty chemicals, further development of the site doesn’t make sense for us. We have therefore begun the search for new owners, who can best shape the future of the site. Lülsdorf has enormous potential as a site for chemical production.”
The move comes as a European Union-mandated regulatory phase-out of alkoxide production at the site is underway. In addition to alkoxides, the plant also produces potassium derivatives and cyanuric chlorides. Evonik said some potential suitors have already voiced interest in the location.
“In the interests of the employees, we will do everything we can to identify specific development options for Lülsdorf as quickly as possible,” said Arndt Selbach, who oversees the Lülsdorf plant and another Evonik plant in Wesseling, in the release.