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Evonik Closes in on Sale of Rütgers

Investment Needed to Tap Growth in China

7:55 AM MDT | October 30, 2007 |

Alex Scott

Evonik Industries is in “very well advanced” negotiations with potential buyers for Evonik’s Rütgers Chemicals (Castrop-Rauxel, Germany) coal tar chemicals processing subsidiary, CW has learned. A final price has yet to be agreed for the business, which generated sales of about €650 million ($936 million) in 2006, according to a source close to the business. German press reports last summer said that Rütgers could fetch a price of €300 million, based on its 2006 financial performance.  Speaking exclusively to CW at a...

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