Evonik Industries AG (XTRA:EVK) intended to divest its Lulsdorf site in the medium term. More detailed plans will be drawn up by spring 2022. The aim is to transfer the entire site to a new owner, although the sale of parts of the business to various interested parties will also be considered. The company has decided to take this step amid the regulatory phase-out of alkoxide production in Lulsdorf and in order to create prospects for the employees from an early stage. Various potential investors have already expressed interest in the chemical site. 'Lulsdorf has proven to be a good location for basic chemicals for decades,' said Christian Kullmann, Chairman of the Executive Board at Evonik. 'However, with our focus on high-margin specialty chemicals, further development of the site doesn't make sense for us. We have therefore begun the search for new owners, who can best shape the future of the site. Lulsdorf has enormous potential as a site for chemical production'. 'The biggest asset is the efficient and experienced workforce that identifies so strongly with the site,' said Thomas Wessel, Evonik's chief human resources officer. 'It is also in the interests of these employees that we have started a process, which will carefully determine the site's best future owner(s). We will closely coordinate all further steps with the co-determination bodies.' The business at the Lulsdorf site belongs to the Functional Solutions business line, which is part of the Performance Materials division. Following the planned divestment of the super absorbents business, the transfer of the site to a new owner is the next logical step in the alignment of Evonik's portfolio to specialty chemicals. 'It's good that we now have a fundamental, strategic decision on the further development of the location,' said Arndt Selbach, Head of Evonik's Wesseling and Lulsdorf sites. 'In the interests of the employees, we will do everything we can to identify the specific development options for Lulsdorf as quickly as possible, in order to present a clear direction for the future of the site and its employees.' The site is particularly attractive for medium-sized investors from the sector. They would be better placed to exploit advantages in the existing production network and possible synergies with new products than Evonik, whose strengths are better leveraged at larger sites.