Evonik Industries acquires Huber’s silica business for US$630 mn

September 6, 2017

Evonik-IndustriesUS-based portfolio management company J.M. Huber Corporation have completed the sale of its Huber Engineered Materials’ (HEM) silica business in a US$630 million deal with global specialty chemicals leader Evonik Industries AG.

The transaction, completed after approvals from the European Commission and other global regulatory bodies, transfers ownership of the HEM Silica facilities in North America, Europe and Asia to Evonik effective September 1.

Strategically, the transfer of the silica business is advantageous for both companies. Proceeds from the sale will enable Huber to invest and expand its product portfolio in other areas, including potential future acquisitions of specialty chemicals or materials businesses.

For Evonik, bringing together the two diverse silica businesses will further improve the company’s value proposition as an integrated global provider, better positioned to serve a broader base of customer needs, particularly in North America and Asia.

The silica business has been a fundamental part of Huber for more than 60 years, providing a runway for the company’s global diversification into engineered materials.

“The strength of our Huber Silica business was built, in part, from the collaborative spirit of our Silica employees, who adhere to best practices in Environment, Health, Safety and Sustainability, ethical behavior, respect for people and operational excellence. These guiding principles at Huber are the foundation of our company culture and ability to deliver superb value for our customers,” said Mike Marberry, Huber President & Chief Executive Officer.

Huber will continue as usual to serve its HEM customers who use other non-silica materials such as ground calcium carbonate and fire retardant additives across a broad range of applications. As an expert in developing and manufacturing specialty engineered materials, HEM takes great pride in delivering exceptional products and service to its industrial customers worldwide.

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