International. Evonik is merging its methacrylate monomer specialty, the application monomer product line, with its current oil additive business to become the new oil additive business line within the resource efficiency segment.
The application monomers were part of Evonik's methacrylate business, which is currently in the process of being sold to U.S.-based private equity firm Advent International.
"The integration makes sense as Oil Additives is the specialist in polyalkylmethacrylate-based additives (PAMA) for the lubricants industry. The companies together have a substantially larger special monomer production configuration. Their innovation capabilities combine very well with each other. Together, this will increase our ability to offer new and customized solutions to our customers," explains Martin Trocha, Product Manager of Application Monomers.
By retaining the specialty methacrylate monomer business at Evonik and integrating it into Oil Additives, their similar business models with a solution-centric approach for the customer will allow them to focus on the development and production of specialty, high-performance products and technologies.
"The combination of both companies will lead to broader production capabilities and a more comprehensive innovation landscape. Lubricants, oil and gas customers will continue to benefit from our most advanced flow efficiency solutions, developed by our oil additive specialists. In addition, we remain fully engaged with our customers in coatings and other specialty markets by providing tailor-made solutions from our specialty monomer group," adds Doris Schmidt, Oil Additives Business Line Director.
The integration is currently underway and is running in parallel to the sale of Evonik's methacrylate business.
The international headquarters and research centers of the new Oil Additives line of business are located in Darmstadt, Germany, in addition to the technical centers located in Shanghai, Singapore, Tsukuba (Japan) and Horsham, PA (USA). The joint venture uses production facilities in Mobile, AL (USA), Houston, TX (USA) And Morrisburg, Ontario (Canada), as well as in Worms, Darmstadt and Weiterstadt (Germany), Lauterbourg (France), Shanghai (China), and Singapore.
