Switch target Evonik merger plans by Europe to United States

Published on 2018-11-26

Germany's leading industrial group Evonik chemical manufacturer in large European mergers after the collapse of the plan, has drawn attention from Europe to United States.

It was reported that Evonik has been with United States companies have approached, including air chemical group, interested in buying its material technical devices, Evonik and air chemical industry representatives from both sides did not comment. Evonik they said any final decision has been made yet, still looking for targets of intent.

Evonik CEO Klaus Engel's mid 2016 target to find the right acquisition target, or decentralization of Evonik's rapidly growing cash flow to the investor, but this deadline no more. Large merger plan has been to avoid Germany Essen enterprise even has informed the companies interested in buying Royal DSM Group, Clariant and the United Kingdom after the croda international.

As of September 15, air chemical materials science and technology of the Group of devices within 12 months revenues of $ 2.009 billion. A source told, Evonik for the device can supply special additives and adhesives, paint and other chemical products, part of the interest, and Evonik corresponds to existing business, but part of the production of electronic chemicals lack of interest.

Two other sources said, the air of Evonik chemical rival BASF, attraction is also very big. BASF representatives to comment did not give any response.

Reports also pointed out that Evonik's large acquisitions did not realize, but at the same time is also planning asset sales plan. The company is considering a sale of methyl acrylate and poly methyl methacrylate production business, the two raw materials are automotive, construction and lighting industry, some products of the initial material.