20th March 2019

HUBER SELLS SILICA BUSINESS TO EVONIK

 J. M. Huber Corp. has completed the sale of the Silica business unit of Huber Engineered Materials to Evonik Industries AG, a global specialty chemicals company.The US$630-million transaction, completed after approvals from the European Commission and other global regulatory bodies, transfers ownership of the HEM silica facilities in North America, Europe and Asia to Evonik, effective September 1.

Strategically, Huber stated in a press release, the transfer of the silica business is advantageous for both companies. Proceeds from the sale will enable Huber to invest and expand its product portfolio in other areas, including potential future acquisitions of specialty chemicals or materials businesses. For Evonik, bringing together the two diverse Silica businesses will further improve the company’s value proposition as an integrated global provider, better positioned to serve a broader base of customer needs, particularly in North America and Asia.

The silica business has been part of Huber for more than 60 years, providing, the company said, a runway for the company’s global diversification into engineered materials.

“The strength of our Huber Silica business was built, in part," said Mike Marberry, Huber president and CEO, "from the collaborative spirit of our Silica employees, who adhere to best practices in environment, health, safety and sustainability, ethical behavior, respect for people and operational excellence. These guiding principles at Huber are the foundation of our company culture and ability to deliver superb value for our customers. We thank our Silica employees and know their talents and expertise will be highly valued by Evonik.”

Huber will continue as usual to serve its HEM customers who use other non-silica materials such as ground calcium carbonate and fire retardant additives across a broad range of applications.

http://dental-silica.evonik.com