Evonik Industries AG has acquired the specialty & coating additives business of US company Air Products and Chemicals for US$3.8 billion (around €3.5 billion). The transaction is intended to be completed by the end of the year. ‘Evonik is already one of the leading producers of specialty and coating additives,’ said Klaus Engel, CEO of Evonik Industries AG. ‘Air Products’ specialty & coating additives business perfectly complements this fast-growing segment. With this acquisition we are expanding our portfolio with precisely the right markets, products and innovations and continuing to invest in our growth and profitability.’ Evonik says that the business can be integrated into the company’s Nutrition & Care and Resource Efficiency growth segments. The combined business has a turnover of around €3.5 billion and an attractive EBITDA margin of more than 20%.
Specialty & coating additives serves three rapidly growing core markets: coating and adhesive additives, high-value PU foam additives, and specialty surfactants for industrial and institutional cleaning. With the new acquisition, Evonik will boost its standing in the North American market, allowing it to serve the increasingly global activities of its customers more effectively. At the same time, by growing in North America and Asia, Evonik is reducing its dependence on the European market and therefore better protecting its own business against economic fluctuations in individual regions.
This story is adapted from material from Evonik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.