The global chemical company Evonik is acquiring the Texas based Porocel Group for approximately US$210 million. The acquisition of Porocel accelerates the growth of its catalysts business of Evonik.
- Porocel headquartered in Houston, Texas, the USA, offers a leading technology for highly efficient rejuvenation of desulfurization catalysts, which are in increasing demand to produce low-sulfur fuel.
- Porocel has available production capacity, enabling Evonik to speed up expansion of its existing business with fixed-bed catalysts.
- Rejuvenation reduces carbon-dioxide emissions by more than 50 percent compared with the production of new desulfurization catalysts.
The prominent acquisitions and expansion by Evonik are mentioned below:
May 2020: Evonik announced an exclusive agreement with Glenn Corporation a division of Azelis Americas. As per agreement Glenn will distribute the product protection line by Evoniks Dr. Straetmans brand in the United States.
The Evonik Dr. Straetmans product range includes multifunctional antimicrobials and preservative blends, antioxidants and chelating agents.
February 2020: Evonik has announced the acquisition of Princeton based Wilshire Technologies, a leading supplier of phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The transaction also includes Wilshire Technologies employees, and cosmetic active ingredients portfolio.
February 2020: Evonik had closed the acquisition of the US company PeroxyChem for US$640 million. PeroxyChem is a leading manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well-positioned in high-margin specialty applications.
December 2019: Evonik announced its strategy to increase the capacity of sodium methylate at its Rosario/Santa Fe facility from 60,000 metric tons up to 90,000 metric tons by 2021. Sodium methylate is an important catalyst for large-scale biodiesel production.
September 2019: Evonik, announced the acquisition of the Endexo a surface modification business of Toronto based Interface Biologics, a privately-held material science company. The deal has strengthened the medical device capabilities of the company.
Evonik, headquartered at Essen, North Rhine-Westphalia, Germany, is one of the worlds leading specialty chemicals companies. The company is operating in more than 100 countries, and employing approximately 36,000 people across the world. The companys product makes tires fuel-efficient, mattresses more elastic, medications more effective, and animal feeds healthier. Evonik, provides biomaterials for use in medical implant applications.