Sasol sells wax subsidiary in Germany to AWAX s.p.a.
South Africa’s energy and chemical company Sasol has sold its German subsidiary Sasol Wax GmbH to AWAX s.p.a., an international group specialized in developing, producing and distributing wax products. Sasol Wax GmbH will operate under the name Hywax GmbH effective March 1, 2022.
Sasol Germany GmbH is a manufacturer of high-quality chemical products with production facilities in Brunsbüttel and Marl and headquarters in Hamburg. It has around 1,700 employees. The company has two production facilities in Hamburg, Germany, one in the UK and one in Austria.
The sale takes place as part of a package of measures being implemented by Sasol to streamline its portfolio by concentrating on core assets. Excluded from the sale is the South African Fischer-Tropsch hard wax business and the business in Europe that is managed by Sasol Wax GmbH. This business will remain with Sasol.
“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,” said Dr. Jens Straatmann, managing director of Sasol Germany GmbH.
“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,” said Giuseppe Ambroggio, CEO of AWAX.
Hywax GmbH is a leading manufacturer of high-quality wax products, with two plants in Hamburg, Germany, one plant in Linz, Austria, and another in Birkenhead, United Kingdom. Hywax’s products are used worldwide in a wide variety of industries, for example in hot-melt adhesives, paper and packaging, paints and varnishes, cosmetics and pharmaceutical, wood-based materials, candles, road construction and many others.