International.
Evonik Industries AG acquired the Specialty and Coating Additives business (Performance Materials Division) from Air Products and Chemicals Inc. for US$3.8 billion, strengthening its position in this market.
The transaction is expected to be completed by the end of the year. Air Products' specialty additives and coatings business will be integrated into the company's nutrition and care and resource efficiency segments. The proposed acquisition is subject to formal approvals by the relevant competition authorities.
Geographically, Evonik and the acquired division also complement each other. Although Air Products' business focus is on North America and Asia, Evonik is particularly strong in Europe. With the acquisition, Evonik is increasing its position in the North American market. At the same time, by growing in North America and Asia, Evonik is reducing its dependence on the European market.
