Home Economy Phillips Carbon Black to persist with Evonik bid

Phillips Carbon Black to persist with Evonik bid


Kolkata : RPG Group company Phillips Carbon Black Ltd (PCBL) will persist with its bid to acquire Germany-based Evonik Industry, world’s second largest carbon black maker, its top executive said here Monday.

“Is it an opportunity (Evonik acquisition) that you should let go off?” RPG group chairman Sanjiv Goenka said while talking to reporters here Monday.

Two Indian carbon black players – Aditya Birla and Phillips Carbon Black – are vying to acquire the assets of Evonik Industries. Evonik shortlisted around six bidders for carbon black sale. The second round of bidding is expected to commence next month.

To a question on the acquisition process for Evonik, he said: “We are not authorised to speak. I am legally bound not to speak anything.”

He also welcomed Aditya Birla Group’s successful bid to acquire US-based Columbian Chemicals Company, the third largest carbon black producer.

“I welcome the development. I feel proud that Indian companies are playing an important role in global market,” he said.

Kumar Mangalam Birla’s diversified conglomerate pipped rival bids, including one by the Kolkata-based PCBL, to acquire Columbian Chemicals.