Evonik completes acquisition JM Huber’s silica business

Evonik completes acquisition of JM Huber’s silica business

9:27 AM, 29th August 2017
Evonik logo

ESSEN, GERMANY: Evonik Industries AG said that will complete the acquisition of US company JM Huber Corporation’s silica business for $630 million, as planned, in the second half of the year.

The transaction will be closed on September 1, 2017. Contributions from the new business will, therefore, be included in Evonik’s sales and earnings as of this date.

The newly acquired business will be integrated into the resource efficiency segment. The intensive planning work that has been done for the integration over the past few months will be put into action straight away.

The acquisition is a perfect match for Evonik’s product portfolio. Huber Silica is especially oriented towards applications in the consumer goods industry, the dental sector for example. To date, Evonik’s silica business has been more focused on industrial applications, for example in the tire and coatings industries.

“With the successful closing of the acquisition, we are strengthening our ‘Smart Materials’ growth engine by continuing to expand our globally leading position in the silica business,” said Christian Kullmann, chairman of the executive board of Evonik.

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