Evonik3M
Evonik is due to acquire 3M's high concentrates additives compounding business
Evonik is expanding its product portfolio in speciality additives with the acquisition of 3M’s high-concentrates additives compounding business.
The move will enable Evonik to add solid additives to its product offering and access key technologies developed by 3M.
The acquisition, the purchase price of which has not been disclosed, is expected to close in the first quarter of 2018.
Dr. Dietmar Schaefer, Head of Evonik’s Interface and Performance Business Line, said: “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 deal includes the Accurel brand product portfolio, which is produced in Obernburg in Bavaria, Germany, as well as the Obernburg production facility, where the current staff of 25 will be retained.
The high-concentrates additive compounding technology acquired through the deal 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 and Performance Business Line.