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March 31, 2003

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Rag Will Divest Plastics Unit

Mining and energy concern RAG, Essen, Germany, plans to divest its plastics and energy/gas divisions. RAG’s three plastics businesses — Bakelite, the thermosets supplier; Isola, which supplies materials for circuit boards; and profile extruder HT Troplast — form the majority of its Rütgers division. RAG is acquiring a majority share in German specialty chemicals supplier Degussa, and the plastics divestments are said to help finance the purchase.

HT Troplast is one of the world’s largest extruders of profiles for the construction industry, and the largest in Europe, with 2001 sales of €716 million. It claims to be the top European processor of polyolefin foams and a leader in extrusion of films for safety glass, and sheet for construction. It is headquartered in Troisdorf, Germany, and has 19 processing facilities globally.

Bakelite has 13 production sites and 2001 sales of €509 million. Production is at three sites in Germany, four in Italy, three in Spain, and one each in Finland, South Korea, and the U.S. Isola has two sites in the U.S. and one each in Germany, Italy, Scotland, China, Singapore, and the Philippines.

Degussa, formed in February 2001 by the merger of Degussa-Hüls and SKW Trostberg, is Germany’s third-largest chemicals firm (after Bayer and BASF) and the world’s seventh-largest. Among its businesses is the supply of acrylics, through its Röhm division. Film and sheet processor Cyro Industries, Rockaway, NJ, is a joint venture of Röhm and Cytec, West Paterson, NJ.

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