CMO Evonik acquires silica business for $630m

By Melissa Fassbender contact

- Last updated on GMT

Silica are small particles based on silicon dioxide used in a variety of industries. (Image: iStock/olando_o)
Silica are small particles based on silicon dioxide used in a variety of industries. (Image: iStock/olando_o)

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Evonik Industries AG has acquired the silica business from the US company J.M. Huber, expanding the company’s presence in North America and Asia.

According to the company, Evonik’s silica products​ are being applied as flow additives and carriers for the manufacture of pharmaceuticals, as well as foodstuffs and cosmetics.

Christian Kullmann, Executive Board Member for Strategy at Evonik, commented in a release, “Combining the complementary silica businesses of Evonik and Huber will strengthen an important pillar of our portfolio​.”

Kullmann also added that Huber Silica is an “excellent regional fit with its focus on the U.S., China and India​.”

For the 2016 financial year, Huber Silica is expected to achieve sales of around $300m. Moving forward, Evonik expects to generate synergies of $20m by 2021.

The transaction is expected to be completed in the second half of 2017.

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