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
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
