DEGUSSA
Spinoff of acrylics business / Plans for strategic alliance to support commodity end
German chemicals and precious metals group Degussa (HQ: D-60287 Frankfurt) has spun off its acrylics activities into a new wholly owned subsidiary. Along with production of methyl methacrylate monomer and polymer (MMA and PMMA), the portfolio of Agomer GmbH (Hanau-Wolfgang, Germany) extends to moulding compounds, cast and extruded acrylics and intermediates. The new company, constituted on 1 October, will not start business officially until April 1997. It "inherits" manufacturing facilities from Degussa in three countries. MMA and PMMA output is at Hanau and Wesseling, Germany, while downstream operations are located at Degussa subsidiaries Para-Chemie (A-2440 Gramatneusiedl) and Paraglas at Lisbon. Sales of the business area, which made a "positive contribution to group earnings," totalled DEM 370m in financial year 1995/96 (30 September).
A specialised company will more effectively deal with customers and the market, Degussa said, adding that the spinoff will also facilitate formation of a strategic alliance or joint venture, aimed at bolstering the Frankfurt group's position in the commodity end. While it considers itself in first or second place in Europe in reactive resins, plastics additives, transparent noise protection wall panels and coatings resins, Degussa said it would like to strengthen its stance in compounds and intermediates. Cooperation talks with potential partners "are not currently being held," a spokesperson told PIE
Who could the "mystery partner" be? An alliance with a converter has been ruled out, and a link with one of the larger European MMA/PMMA players such as ICI and Atohaas seems unlikely. Some observers see Röhm AG (D-64275 Darmstadt), part of the Hüls group (D-457G4 Marl), as a possible candidate. The company is undergoing reorganisation to recoup losses. One of the smallest players, BASF AG (D-67056 Ludwigshafen), has been quiet about the future of its acrylics subsidiary Resart GmbH (Postf. 3440, D-55024 Mainz) after plans for a sale to ICI collapsed. A tie-up with Degussa could at least lock in MMA feedstock.
A specialised company will more effectively deal with customers and the market, Degussa said, adding that the spinoff will also facilitate formation of a strategic alliance or joint venture, aimed at bolstering the Frankfurt group's position in the commodity end. While it considers itself in first or second place in Europe in reactive resins, plastics additives, transparent noise protection wall panels and coatings resins, Degussa said it would like to strengthen its stance in compounds and intermediates. Cooperation talks with potential partners "are not currently being held," a spokesperson told PIE
Who could the "mystery partner" be? An alliance with a converter has been ruled out, and a link with one of the larger European MMA/PMMA players such as ICI and Atohaas seems unlikely. Some observers see Röhm AG (D-64275 Darmstadt), part of the Hüls group (D-457G4 Marl), as a possible candidate. The company is undergoing reorganisation to recoup losses. One of the smallest players, BASF AG (D-67056 Ludwigshafen), has been quiet about the future of its acrylics subsidiary Resart GmbH (Postf. 3440, D-55024 Mainz) after plans for a sale to ICI collapsed. A tie-up with Degussa could at least lock in MMA feedstock.
30.11.1996 Plasteurope.com [19710]
Published on 30.11.1996