Evonik Industries has signed a corresponding agreement to acquire 3M’s high-concentrates additive compounding business. The speciality chemicals group is further expanding its capabilities in the highly profitable business with speciality additives.
Evonik already offers a variety of additives to the plastics industry, and the acquisition will enable the company to now also offer solid additives.
The transaction enhances the enterprise’s capabilities in speciality additives – one of its key areas of business growth. The transaction is expected to close in the first quarter 2018.
The deal includes the Accurel brand product portfolio which is produced in Obernburg (Bavaria, Germany) as well as the Obernburg production facility with approximately 25 jobs which will be retained. The high-concentrates additive compounding technology allows plastic manufacturers to introduce large volumes of additives into a polymer matrix via a solid polymer carrier. This will enable Evonik to target new applications, for instance, the packaging industry. These operations are to be incorporated into Evonik’s interface & performance business Line.
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