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Goldschmidt Industrial Chemical Corp., formerly a subsidiary of Degussa AG (now Evonik), recently announced a company name change to Reaxis Inc., effective March 10, 2008. Several senior level managers acquired the industrial chemicals division of Evonik in a Management Buy Out (MBO).

“This strategic acquisition strengthens the flexibility of our manufacturing processes, provides the opportunity for continued enhancement of innovation toward new product development, and allows us to continue offering excellent customer service with high-quality products and technical support,” said Marco R. van der Poel, president of Reaxis Inc.

Reaxis has a rich history dating back to 1935 with the incorporation of Pitt Metals. The company manufactured inorganic tin compounds in the 1970s. In 1993, the company became Goldschmidt Industrial Chemical Corp. with the sale of Pitt Metals to Th. Goldschmidt AG, which was subsequently acquired by Evonik. As of December 2006, Reaxis became an independent company.

Headquartered in McDonald, PA, Reaxis manufactures an extensive range of catalysts that are used in the processing and production of a number of key products including polymers (resins), coatings, elastomers, adhesives and sealants, and oleochemicals. They also manufacture a line of chemicals used in a variety of surface finishing applications. Reaxis has renamed its well-known TEGOKAT® product line REAXISTM.

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