Evonik introduces new strategic structure for acrylic acid production
As part of its new corporate strategy, Evonik is taking steps to optimize its acrylic acid production. Effective December 31, 2017, Evonik Industries and The Dow Chemical Company (Dow) will be ending their StoHaas joint venture, which has production sites in Germany and the US. Follow-up agreements governing the mutual supply of acrylic acid will offer both companies a secure supply of the material.
“The dissolution of the joint venture will put both companies in a better position to pursue their respective strategic goals. We need to combine high supply reliability with a good cost position,” says Norbert Westerholt, head of the Baby Care Business Line at Evonik.
The 50/50 joint venture StoHaas was established in 1999 between Stockhausen (a predecessor of Evonik) and Rohm & Haas (a wholly-owned subsidiary of Dow). Both companies contributed acrylic acid production plants in Germany and the US to the joint venture. Each plant will go back to the originally contributing partner in its current form: the production plant in Marl will go to Evonik, and the contributed portion of the Deer Park plant (US) will go to DowDuPont. Jobs are not affected by the transaction.
Acrylic acid is an important raw material for manufacturing superabsorbents, which are used in items such as diapers and incontinence products.