ESSEN, Germany - Evonik Industries AG has completed its acquisition of the specialty additives business (Performance Materials Division) of Air Products Inc. for $3.8 billion, and the integration of the acquired business is underway. The transaction financing, completed successfully in September, will consist of the company’s own funds in the amount €1.6 billion, with the other half to be financed by bonds with a nominal value of €1.9 billion.
“The successful completion of the acquisition paves the way for swiftly merging the activities of Evonik and the acquired units of the Air Products Performance Materials business,” said Klaus Engel, Chairman of the Executive Board of Evonik Industries AG. “It puts Evonik in an excellent position for further profitable growth in the attractive specialty additives market.”
“We are well prepared to ensure a smooth business transition and a successful integration. To this end, we have worked intensively with Air Products over the past few months to develop integration plans,” confirmed Ralph Sven Kaufmann, Chief Operating Officer and Executive Board member responsible for the integration.