On 7th November, Shell MDS and Evonik Industries signed a six year contract for Evonik Industries to continue as Shell MDS' distributor of Shell GTL Sarawax waxes (FT waxes) in Europe. Evonik will produce and sell modified GTL waxes globally with the brand name VESTOWAX®.
"This is the right timing due to the increased capacity of the Shell MDS plant in Bintulu, Sarawak, Malaysia which will be available in Europe and globally at the beginning of next year" said Ate Visser, Managing Director of Shell MDS (Malaysia) Sdn Bhd and Vice President Gas of Shell Upstream International Asia.
"This cooperation really developed very fruitfully over the last years and I'm glad that we foster the relationship" said Dr. Dietmar Wewers, Senior Vice President Coating & Adhesive Resins of Evonik Industries.
GTL waxes act as additives in Hot Melt Adhesives and a multitude of other growing industrial applications.
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. In 2010 about 80 percent of the Group’s chemicals sales came from activities where it ranks among the market leaders. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBITDA) of about €2.4 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.