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Evonik, the successful acquisition of Qiub's silica business, will buy the silica business
of J.
M.
Huber in the United States for $630 million in the second half of this year.
Subject to approval by the relevant authorities, the transaction was completed
on 1 September 2017.
From then on, the new business will contribute to
Evonik's sales and earnings.
The acquisition perfectly complements Evonik's product portfolio and the newly acquired businesses will be integrated into the Resource Efficiency segment
.
Hubre's silica business is primarily targeted at applications in the consumer goods industry, such as dentistry
.
Until now, Evonik's silica business has focused on industrial applications such as the tire and coatings industry
.
Christian Kullmann, Chairman of the Group Board, said: "With the successful completion of the acquisition, we will continue to strengthen our global leadership in the silica business and thus strengthen the company's growth strength
in the 'smart materials' segment.
”
