Evonik buying high-concentrates additive compounding business from 3M
Canadian Plastics
MaterialsThe deal includes the Accurel brand product portfolio which is produced in Obernburg, Germany, as well as the Obernburg production facility with approximately 25 jobs which will be retained.
In a bid to grow its business in specialty additives, Germany-based chemicals company Evonik is acquiring the additive compounding business of material supplier 3M for an undisclosed amount.
The deal includes the Accurel brand product portfolio which is produced in Obernburg, 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 and performance business line.
“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,” Dr. Dietmar Schaefer, head of Evonik’s interface and performance business line, said in a statement. Typical applications that this business line addresses within the plastics industry include films, foams, fibers, nonwoven fabrics, injection molding, and cables.
The transaction is expected to close in the first quarter 2018.
