Huber Closes Sale of Silica Business to Evonik Industries
EDISON, NJ – The J.M. Huber Corp., Edison, New Jersey, has completed the sale of the Silica business unit of Huber Engineered Materials (HEM) to Evonik Industries AG, a global specialty chemicals company. The $630 million transaction, completed after approvals from the European Commission and other global regulatory bodies, transfers ownership of the HEM Silica facilities in North America, Europe and Asia to Evonik, effective today.
Strategically, the transfer of the Silica business is advantageous for both companies. Proceeds from the sale will enable Huber to invest and expand its product portfolio in other areas, including potential future acquisitions of specialty chemicals or materials businesses. For Evonik, bringing together the two diverse silica businesses will further improve the company’s value proposition as an integrated global provider, better positioned to serve a broader base of customer needs, particularly in North America and Asia.
The Silica business has been a fundamental part of Huber for more than 60 years, providing a runway for the company’s global diversification into engineered materials.
Huber will continue as usual to serve its HEM customers that use other non-silica materials such as ground calcium carbonate and fire retardant additives across a broad range of applications.