Evonik has agreed to acquire 3M’s high-concentrates additive compounding business for an undisclosed sum.
Evonik will include the acquired operations in its interface and performance business line, which produces and markets specialty additives for the plastics industry.
Under the deal, Evonik will acquire Accurel brand product portfolio, which is manufactured at Obernburg facility in Bavaria of Germany. Evonik will also retain 25 jobs at Obernburg facility.
The high-concentrates additive compounding technology will enable plastic manufacturers to introduce large volumes of additives into a polymer matrix through a solid polymer carrier.
It will help Evonik to target new applications such as packaging.
Interface and performance is said to leverage advanced technology platforms for the production of silicones and specialty additives based on surfactants.
Specialty additives can be used in various applications, including films, foams, fibers, nonwoven fabrics, injection molding and cables.
Subject to the customary closing conditions, the deal is expected to complete in the first quarter of 2018.
Evonik interface and performance business line head Dr Dietmar Schaefer 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.”
Evonik produces TEGO Airex 921 deaerator, which was designed for UV-curable printing inks and coatings for food packaging. It can be used in clear and pigmented formulations without impact on the overprintability.
Evonik, which produces specialty chemicals, carries out operations in more than 100 countries and employs over 36,000 employees.
The company generated sales of about €12.7bn in fiscal 2016, with an operating profit of around €2.165bn.
