Evonik sells its colourants business

Evonik Industries has entered into an agreement to sell its global colourants business to the USA-based private investment firm Arsenal Capital Partners. It was agreed not to disclose the financial terms. The transaction is expected to be closed this month.

Evonik’s colourants business generated sales of around €130M and employs more than 300 at its facilities located in the USA, Canada, Brazil, Australia, China, Malaysia and The Netherlands.