Kaneka Corporation and Kaneka Belgium N.V. have reached an agreement with Evonik Rohm GmbH of the Evonik Industries AG Group regarding the acquisition of Evoniks acrylic modifier and acrylic sol businesses.

The acrylic modifier and acrylic sol businesses of Evonik will be acquired. The acquisition encompasses tangible fixed assets associated with the relevant operations of Wesseling site located on the outskirts of Cologne Germany, and other assets, as well as employees of the manufacturing department and separate contracts with third parties.

Kaneka Belgium will carry out sales and production of the acquired businesses while setting up a new company, as detailed below, at the Wesseling site of Evonik to inherit tangible fixed assets and manufacturing department employees from Evonik.