Essen, Germany — Evonik has bought Air Product’s specialty business, Versum, which includes polyurethane additives for $3.8bn, the company said in a release.
Versum was earmarked for sale or separate flotation by Air Products in October 2015.
Versum will be combined into Evonik’s Nutrition & Care and Resource Efficiency business segments.
Klaus Engel, Evonik ceo said “Air Products’ Specialty & Coating Additives business perfectly complements our speciality and coatings business. With this we are expanding our portfolio with precisely the right markets, products and innovations and continuing to invest in our growth and