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
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).
