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Evonik completes acquisition of Porocel

Source:Plastics News Asia     Date:2020-11-05
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On November 3, 2020, Evonik completed the acquisition of the Porocel Group, Houston (USA), for US$ 210 million, as planned. Contributions from the new business will therefore be included in Evonik’s sales and earnings as of this day. The company with its approximately 300 employees and the corresponding production facilities will be integrated into the Smart Materials division of Evonik. Porocel's global activities in the field of desulfurization catalyst rejuvenation, sulfur recovery catalysts and alumina based purification adsorbents represent an expansion of Evonik's catalyst portfolio.

 

The intensive planning work that has been done for the integration into the business line Catalysts over the past few months will be put into action straight away. Porocel's customers will continue to receive the same high-quality products and services they have come to expect via the established sales channels.


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Claus Rettig, head of the Smart Materials division, sees additional growth potential in Evonik's global catalyst business through the transaction, and stated that the Catalysts business line is an important driver of growth and sustainability within Evonik's Smart Materials division. “With the targeted acquisition, we expand our competencies with new technologies and products. In this way, we enable our customers to make their processes and products more efficient and resource-saving.”  

 

With the technology for the highly efficient rejuvenation of desulfurization catalysts, Evonik will be able to serve the growing market for low-sulfur fuels. Catalyst rejuvenation reduces CO2 emissions, contributes to sustainability and transition to circular economy thus enabling the reduction of the carbon footprint. Porocel represents a decisive milestone for the Catalysts business line and opens up a new horizon for growth, according to Sanjeev Taneja, head of Evonik's Catalysts business line at Evonik.


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