Evonik Acquires Specialty & Coating Additives Business of Air Products
ESSEN, Germany - Evonik Industries AG is acquiring the Specialty & Coating Additives business (Performance Materials Division) of Air Products and Chemicals Inc. for $3.8 billion, strengthening its position in the specialty and coating additives market. The transaction is expected to be completed by the end of the year. Air Products’ Specialty & Coating Additives business will be integrated into the company’s Nutrition & Care and Resource Efficiency segments. The planned acquisition remains subject to formal approvals from the relevant antitrust authorities.
Klaus Engel, CEO of Evonik Industries AG, said, "Evonik is already one of the leading producers of specialty and coating additives. 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."