Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Coronavirus
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
    • Jason Furniture plant construction in China and Vietnam continues
      Istock, Dubai, Silhouette, 800, Web, 2020.jpg.jpg
      Pearl rolls away from Covestro
      Sheela’s foam production restarts in Jalpaiguri
      Wanhua completes MDI expansion in Yantai
    • Maine’s Poly Labs doubles workforce
      Novoloop introduces TPU made with recycled PE
      Casper 2020 sales up 9%, losses fall
      Coronavirus took 67% off Magna's seating earnings in 2020
    • 2020 sales down in busy year at Recticel
      Asset write downs hit BASF in 2020, trading flat in year
      iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
      Depressed automotive demand in 2020 hit Faurecia's numbers
    • 2020 sales down in busy year at Recticel
      iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
      Turkish sandwich panel maker expands to Azerbaijan
      BPCL Polyol project in doubt
    • 2020 sales down in busy year at Recticel
      Asset write downs hit BASF in 2020, trading flat in year
      Depressed automotive demand in 2020 hit Faurecia's numbers
      Casper 2020 sales up 9%, losses fall
    • iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
      Depressed automotive demand in 2020 hit Faurecia's numbers
      Global car sales on rise in January 2021
      Coronavirus takes 14% off Lear's top line
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
    • China’s PU industry on the path to recovery; plans for technology upgrades
      Chinese cold chains grow bigger
      Flexible foam rises to challenges in the Middle East and Africa
      Life at the cross-roads: what does the GCC offer PU?
    • Europe's flexible foam makers face rising prices as outages hit markets
      Western European car registrations rebound slowed in September
      Western European car registrations regained some ground in August
      Western European Car registrations rebound continued in July
    • Take out the VOC with hybrid release agents
      Batteries give pultrusions power
      Seeing a way through VOC and FOG
      Aromatic polyols for simpler rigid PU formulations
    • Hennecke and Frimo: an automotive partnership
      Pushing ahead: AutoRIM drives KM’s UK growth
      BASF opens it first ‘Creation Center’ in Mumbai with a PU twist
      Persistence pays off for CTM
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
October 27, 2016 12:00 AM

K2016: Air Products purchase on track for year end: Evonik's Gammelin

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Düsseldorf, Germany — Evonik Performance Materials expects to complete the $3.8 bn purchase of Air Products’ specialty chemicals business by year-end. Evonik has no plans to sell its Performance Materials division, confirmed Johann-Caspar Gammelin, chairman of the board of management, at an Oct. 20 news conference at K 2016.

    During the conference,  he moved to squash persistent rumors about Evonik’s commitment to its Performance Materials division.

    “There are no plans whatsoever to sell the segment or enter into a joint venture with another company. The business is profitable, although it does not generate the same high margins as the other segments,” he said.

    Gammelin added later that the Performance Materials business generates significant amounts of free cash, which is used to “grow the rest of the business.”

    He confirmed that the purchase of Air Products’ Materials Technology division, which makes amine catalysts for polyurethanes, is likely to complete by the end of the year.

    “It is rare to buy a business in the chemical industry without also having to buy something you don’t want,” Gammelin said after the news conference.

    Evonik makes a range of silicone foam stabilizers for polyurethanes.

    “It is a really complementary fit with our existing business; as additive suppliers, we have similar cultures and Air Products has a strong R&D pipeline,” he added.

     

    Recommended for You
    Maine’s Poly Labs doubles workforce
    Maine’s Poly Labs doubles workforce
    Jason Furniture plant construction in China and Vietnam continues
    Jason Furniture plant construction in China and Vietnam continues
    2020 sales down in busy year at Recticel
    2020 sales down in busy year at Recticel
    Latest Issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • Coronavirus
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe