Sector News

Evonik in talks to buy J.M. Huber silica business

December 12, 2016
Energy & Chemical Value Chain

German chemical company Evonik Industries AG said Friday it was in talks with J.M. Huber Corp. to buy the U.S. company’s silica business, which has annual revenue of around $300 million.

A possible price tag of $630 million, reported by newspaper Westdeutsche Allgemeine Zeitung, is “in the range of what one would assume,” said Evonik spokesman Jörg Wagner. Evonik’s supervisory board hadn’t approved the deal yet but would meet later on Friday, he added.

By Friedrich Geiger

Source: MarketWatch

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