The European Commission has approved Evonik’s acquisition of the silica business of J.M. Huber (Edison, New Jersey) subject to divestment of some of both companies’ activities related to precipitated silica. Evonik announced plans to acquire the business for $630 million in December 2016.
To secure approval, Evonik has agreed to divest its precipitated silica business for dental applications in Europe, the Middle East, and Africa. Huber will divest its precipitated silica business for defoamer applications in the European Economic Area (EEA); and will sell its hydrophobic precipitated silica business in the EEA.
The commission’s investigation found that the transaction raised competition concerns in certain markets, notably precipitated silica for toothpaste and for defoamer applications; and hydrophobic precipitated silica, which is used in products including defoamers, paints, coatings, and food and feed additives. The merged entity would have a relatively high combined share of these markets. In addition, there is a limited number of alternative suppliers in each of these market, the commission says. The commission concluded that the proposed merger, as modified by the planned divestitures, would no longer raise competition concerns.
Evonik has previously said it expects to close the deal in the second half of 2017.
By Michael Ravenscroft
Source: Chemical Week
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
