SABO S.p.A., an Italian chemical company recognized as a leading global manufacturer of polymer additives, cosmetic ingredients, and specialty chemicals for industrial applications, is pleased to announce the acquisition from Evonik Industries AG of the TAA and derivatives business and the production sites located in Marl, Germany and Liaoyang, China. Both parties have agreed not to disclose the purchase price.
TAA and its derivatives are critical raw materials used in the manufacture of hindered amine light stabilizers (HALS). These additives protect and stabilize plastics and other substrates against photodegradation and enable their use in outdoor applications. They are used in a wide range of applications, such as automotive components, agricultural films, building materials, consumer goods, and many others.
The transaction, executed through the new company SABO GmbH based in Marl, provides SABO with full integration over the entire production chain of HALS, strengthens its capabilities and consolidates its global leadership position in this strategic industry sector.
“The acquisition of the TAA business from Evonik propels SABO into a new phase of growth. The addition of new cutting-edge technologies, proprietary processes, and integration of production assets in Germany, China and Italy will consolidate our manufacturing position, to the benefit of our current and future customers and our employees” stated Germano Peverelli, CEO and Chairman of the Board of SABO S.p.A. “I’m also excited to welcome the 250 new German and Chinese colleagues and integrate their know-how into SABO, bringing further impetus to the pursuit of our sustainable growth objectives”.
The agreement, which was signed in conjunction with K2022 in Düsseldorf (the world’s no. 1 trade fair for plastics and rubber, where SABO will exhibit in Hall 6, Booth B07) will become effective in early 2023.
About SABO S.p.A. – Founded in Bergamo, Italy in 1937, SABO is a private company recognized as a leader in the European specialty chemicals industry. Active in about 70 countries, it closed 2021 with a turnover of 203 million Euros, registering an average growth of 21 percent over the last five years. For more information please visit www.sabo.com.