Evonik Industries AG is acquiring the Specialty & Coating Additives business (Performance Materials Division) of the US company Air Products and Chemicals, Inc. for 3.8 billion US dollars (approx. €3.5 billion. The transaction is intended to be completed by the end of the year.
Klaus Engel, CEO of Evonik Industries AG, said: “Evonik is already one of the leading producers of specialty & coating additives. Air Products’ Specialty & Coating Additives businessperfectly 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.”
Air Products’ specialty & coating additives add critical and highly valuable characteristics to their customers’ products. The two businesses serve three particularly attractive, rapidly growing core markets: coating and adhesive additives, high value PU foam additives, and specialty surfactants for industrial and institutional cleaning. They target the same end customers, but with different and complementary products. For instance, Evonik is a leader in PU foam stabilisers while the Specialty & Coating Additives business of Air Products is well positioned in PU foam catalysts. Demand for these products is rising strongly, and the market for these additives will grow far more quickly than overall demand for chemical products.
