May 8, 2018 / 11:09 AM / 9 months ago

Evonik may add smaller units to methacrylate business for sale

FRANKFURT (Reuters) - German chemicals group Evonik (EVKn.DE) may add businesses with no more than 150 to 200 million euros (132 to 176 million pounds) to the methacrylates unit that it is preparing to sell, its finance chief said on Tuesday.

Evonik in March unveiled plans to divest its methacrylates plastics unit, which makes clear acrylic sheet and related materials with about 1.5 billion euros in 2017 sales, as it looks to focus on faster-growing sectors such as feed additives and rubber silica for tyres.

“There are some smaller businesses on the production side where it really makes sense from a product portfolio point of view to group them to this entity. We are just now looking into that,” said Chief Financial Officer Ute Wolf, speaking to analysts in a conference call.

Reporting by Ludwig Burger; Editing by Maria Sheahan

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