The South African energy and chemical company Sasol sold its German subsidiary Sasol Wax GmbH to AWAX s.p.a., an international group specialized in developing, producing, and distributing wax products.
WHO: Sasol Germany GmbH is a manufacturer of chemical products with production facilities in Brunsbüttel and Marl and headquarters in Hamburg. The company offers a wide range of products, including substances for the production of detergents and cleaning agents, paints and coatings, cosmetics, and pharmaceutical products. Sasol Germany GmbH is part of the South African Sasol Group, a leading integrated chemical and energy company with almost 29,000 employees in 23 countries manufacturing and marketing first-class products.
AWAX s.p.a. is an international group of companies exclusively focused on waxes and operating globally. The group has 40 years of experience in developing, producing, and distributing unique wax products for all industrial applications, with a leadership in sustainable waxes.
WHY: The sale takes place as part of a package of measures with which Sasol repositions itself. The portfolio is being streamlined by concentrating on core assets.
IN THEIR OWN WORDS: Dr. Jens Straatmann, Managing Director of Sasol Germany GmbH, emphasizes: "We are pleased to have found a strategic investor for our European wax business. The sale allows us at Sasol to take another important strategic step towards focusing on our core assets."
Giuseppe Ambroggio, CEO of AWAX, says: "Sasol Wax GmbH has the most advanced wax hydrogenation facility in the world. With this acquisition the Group will further expand its wax product portfolio and strengthen its technological leadership in the wax market."
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