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.