Evonik Industries to Sell North American Cyanide Activities
Advertisement
Evonik Industries has signed a contract for the sale of its U.S. and Canadian cyanide activities with Oaktree Capital Management. The cyanide business constitutes a part of the CyPlus Group owned by Evonik. The parties have agreed not to disclose financial terms of the transaction. The transaction is subject to approval by the regulatory authorities.
The transaction comprises of CyPlus Group’s business in the U.S. and Canada dedicated to the gold-mining industry. It includes a 50-percent share in Cyanco, a joint venture with Utah-based Nevada Chemicals, Inc., a publicly traded company and two subsidiaries of CyPlus GmbH — CyPlus Canada, Inc., and CyPlus Corporation. The number of employees in the businesses to be sold is about 40.
All of CyPlus GmbH’s activities at the sites in Hanau and Wesseling, Germany, and in Antwerp, Belgium, will remain part of Evonik’s hydrogen cyanide network and will continue to successfully operate in their current capacity, with a sharpened focus on emerging markets.
Other news from the department business & finance
Most read news
More news from our other portals
Last viewed contents
Ralf Knief continues as general manager at H&S Anlagentechnik
Malvern extends contract services in France
ORNL researchers analyze material with 'colossal ionic conductivity'
Camera flash turns an insulating material into a conductor
Construction of Oxea’s new specialty derivatives plant in China well on track
Thermal storage for the energy transition - The energy is not stored in the form of increased heat but in the form of a chemical state
Univar invests in development of €1.5m Swedish lubricants depot
Perten Instrument forms fully owned subsidiary in China
Cicada wings inspire antireflective surfaces
New ways to use biomass - Tungsten carbide as catalyst for cost-effective conversion of cellulose into industrially useful carbon compounds
