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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  LG Chem, Ltd.    A051910   KR7051910008

LG CHEM, LTD.

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Evonik says preparing diaper materials business for potential sale

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09/22/2020 | 11:44am EDT
FILE PHOTO: The logo of German specialty chemicals company Evonik Industries at its plant in Bitterfeld

DUESSELDORF, Germany (Reuters) - German chemicals maker Evonik on Tuesday said it would prepare its superabsorbents business, which makes materials for diapers and hygiene products, for a possible sale in about six to nine months.

After an organisational carve-out, Evonik would put the business up for sale, seek a partner or restructure it further, a spokesman told Reuters.

The division competes with BASF, Nippon Shokubai, Sanyo Chemical and LG Chem and Evonik has said it is the third-largest supplier of superabsorbents.

Analysts at Bernstein Research on Tuesday estimated a sale could generate 400-450 million euros in proceeds.

The company has been pursuing deals to boost margins and growth prospects. Evonik this year wrapped up the $625 million takeover of PeroxyChem to bolster its bleaching agents business and in August agreed to buy U.S. process catalyst maker Porocel for $210 million.

Last year it agreed to shed its methacrylates plastics unit, a maker of materials for clear acrylic sheets, for 3 billion euros.

Deputy Chief Executive Harald Schwager said in June the group would consider all strategic options for the absorbent materials business over the next few years and that the unit was currently being restructured.

It is part of Evonik's Nutrition & Care division, which saw revenue slip 1% to 4.58 billion euros last year.

By Matthias Inverardi


Stocks mentioned in the article
ChangeLast1st jan.
BASF SE 0.93% 52.27 Delayed Quote.-22.39%
EVONIK INDUSTRIES AG 1.18% 22.27 Delayed Quote.-18.16%
LG CHEM, LTD. 1.72% 650000 End-of-day quote.104.72%
LG CORP. -0.41% 72200 End-of-day quote.-2.17%
NIPPON SHOKUBAI CO., LTD. 0.38% 5300 End-of-day quote.-21.94%
SANYO CHEMICAL INDUSTRIES LTD. 4.34% 4690 End-of-day quote.-13.47%
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Financials
Sales 2020 30 211 B 26,8 B 26,8 B
Net income 2020 1 513 B 1,34 B 1,34 B
Net Debt 2020 8 010 B 7,10 B 7,10 B
P/E ratio 2020 32,4x
Yield 2020 0,97%
Capitalization 47 293 B 41 844 M 41 949 M
EV / Sales 2020 1 566x
EV / Sales 2021 1 256x
Nbr of Employees -
Free-Float 58,0%
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Number of Analysts 29
Average target price 881 678,57 KRW
Last Close Price 650 000,00 KRW
Spread / Highest target 84,6%
Spread / Average Target 35,6%
Spread / Lowest Target -30,8%
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Managers
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Jin-Soo Park Vice Chairman
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
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