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Issue 17/2020 - Evonik acquires the American company Porocel

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Evonik acquires the American company Porocel

Evonik recently announced the acquisition of the US-based Porocel Group for $210 million, a transaction subject to approval and expected to be completed
by the end of 2020 through Evonik's robust free cash flow.
By the end of 2025, the company expects sales of the integrated catalyst business to increase significantly to more than
EUR 500 million by the end of 2025.

Poroce has a technology for the efficient regeneration of desulfurization catalysts for the production of low-sulfur fuels, and its existing capacity will help Evonik accelerate the expansion of its fixed-bed catalyst business
.
The acquisition is expected to bring important customers
to Evonik in the refining and petrochemical industries.

Kuleman, Chairman of Evonik Industries, said: "This acquisition is an important step
in Evonik's portfolio development strategy.
The company is systematically expanding its share of the specialty chemicals business to make our business value more attractive
.
”

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