Specialty chemicals company Evonik is to take over 3M’s high-concentrates additive compounding business. The corresponding agreement has been signed and the transaction is expected to close in the first quarter 2018, subject to the customary closing conditions. The specialty chemicals group is enhancing its capabilities in the highly profitable business with specialty additives. The acquisition of 3M’s will help the company to offer solid additives.
The Accurel brand product produced in Obernburg (Bavaria, Germany), as well as the Obernburg production facility along with approximately 25 jobs, are covered in the deal. With the high-concentrates additive compounding technology, plastic manufacturers introduce large volumes of additives into a polymer matrix via a solid polymer carrier. Evonik will be able to target new applications, for instance, the packaging industry.
“We are gaining an excellent platform for the development of innovative solutions, and will be able to significantly expand our product portfolio with this acquisition”, said, Dietmar Schaefer, Head of Evonik’s Interface & Performance Business Line. “The transaction enhances the enterprise’s capabilities in specialty additives – one of its key areas of business growth.”
The Business Line produces and markets specialty additives for the plastics industry. The company is addressing typical applications within the plastics industry with specialty additives including films, foams, fibers, nonwoven fabrics, injection molding, and cables.
Evonik focuses on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture as its corporate strategy for profitable growth and a sustained increase in the value of the company. Evonik is active in over 100 countries around the world with sales of around €12.7 billion in 2016 and an operating profit of about €2.165 billion.