Evonik Acquires Air Products’ Performance Materials Division
May 6, 2016
Evonik acquires Specialty & Coatings Additives Business of Air Products.
Evonik Industries AG is acquiring the Specialty & Coating Additives business (Performance Materials Division) of Air Products and Chemicals, Inc. for $3.8 billion, according to the company. The transaction should be completed by the end of the year. It is expected that the acquisition will be EPS accretive for Evonik in 2017. With its own strategic reorganization and creation of three independent operational segments in 2015, Evonik can rapidly integrate Air Products’ Specialty & Coating Additives business into the Nutrition & Care and Resource Efficiency segments, according to the company.
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