Speciality chemicals company Evonik is to acquire 3M’s high-concentrates additive compounding business, and the corresponding agreement has been signed.
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.
Dr. Dietmar Schaefer, Head of Evonik’s Interface & Performance Business Line, stated: “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.”
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 Q1 2018, subject to the customary closing conditions.
The parties have agreed not to disclose the price of the purchase.
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.
The Business Line produces and markets speciality additives for the plastics industry.
These either improve the processing of plastics, eg by better filler dispersion, improved flow, or enhance the performance (improved scratch-resistance, controlled odor and improved mechanical strength).
In addition, Interface & Performance leverages innovative technology platforms for the production of silicones and speciality additives based on surfactants.
Typical applications that the company is addressing within the plastics industry with specialty additives include films, foams, fibers, nonwoven fabrics, injection molding and cables.