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Sasol has sold its German subsidiary, Sasol Wax GmbH, to AWAX s.p.a., a global leader in wax production, effective March 1, 2022. This sale aligns with Sasol's strategy to streamline its portfolio by focusing on core assets. Notably, the South African Fischer-Tropsch hard wax business will remain with Sasol. AWAX aims to leverage Sasol Wax's advanced hydrogenation facility to enhance its technological leadership in the wax market. The transaction reflects Sasol's commitment to repositioning itself within the energy and chemical sectors.
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Strategic sale of Sasol Wax GmbH to AWAX aligns with Sasol's core asset focus.
AWAX to benefit from advanced wax hydrogenation facility, enhancing product capabilities.
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HAMBURG, Germany--(BUSINESS WIRE)--
The South African energy and chemical company Sasol sells its German subsidiary Sasol Wax GmbH to AWAX s.p.a., an international group specialized in developing, producing and distributing wax products. The company with two production facilities in Hamburg, Germany, one in the UK and one in Austria will operate under the name Hywax GmbH effective 1 March 2022.
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. Excluded from the sale is the South African Fischer-Tropsch hard wax business. This also includes the part in Europe that is managed by Sasol Wax GmbH. This business will remain with Sasol.
Dr. Jens Straatmann, Managing Director of Sasol Germany GmbH, emphasises: "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.”
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.
About Sasol Germany GmbH
Sasol Germany GmbH is a manufacturer of high-quality chemical products with production facilities in Brunsbüttel and Marl and headquarters in Hamburg. Around 1,700 employees and almost 100 apprentices produce innovative, sustainable products and develop solutions for the processing industry. 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. In addition, specialities such as high-purity and ultra-high-purity aluminas are used, for example, as catalyst carriers in catalytic converters for the automotive industry, industrial applications and high-performance abrasives.
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.
About AWAX
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.
