Evonik Industries has acquired the remaining 50 percent shares in its former carbon black joint venture Degussa Engineered Carbons (DEC) from ECI. DEC will now be a 100 percent-owned subsidiary of Evonik.
“Carbon black is one of our strategic growth areas that we are systematically expanding. This transaction underlines Evonik’s commitment in the North American market and will add significant value to our group,” said Dr. Klaus Engel, member of the Management Board of Evonik and responsible for the Chemicals business area.
“The acquisition is an important step to consolidate our position in one of our key strategic markets, and will help us to serve our global key accounts even better,” added Thomas Hermann, head of Evonik’s Advanced Fillers & Pigments Business Unit.
In 2002, Evonik and ECI formed the joint venture to combine their carbon black businesses in North America. DEC is headquartered in Parsippany, NJ, and produces and markets furnace grade carbon blacks for the rubber and pigment industries in North America and thermal blacks worldwide.
DEC is one of the activities of Evonik’s Business Unit Advanced Fillers & Pigments. The business unit’s entire product range also offers tailor-made solutions to manufacturers of dyes, enamels and printing inks, and to the plastics industry.