Evonik Industries Sells Wax Business to Paramelt

Evonik Industries says it has agreed to sell its Dilavest expansion wax business to Paramelt (Heerhugowaard, the Netherlands). Terms of the deal were not disclosed. The waxes are used in thermostatic control devices for automotive, marine and aerospace engines as well as building heating and cooling systems. Paramelt takes over the business with immediate effect and will invest in a state-of-the-art plant for the production of the Dilavest product line. Evonik will continue to produce the waxes until mid 2012.   Paramelt is a leading industrial wax producer...

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