Evonik acquires silica business of J.M. Huber for $630M

On December 9, 2016, Evonik Industries AG announced the acquisition of the silica business of J.M. Huber (Edison, NJ) for $630 million. The business operated as part of Huber Engineered Materials (Atlanta, GA) and had been part of Huber’s business line since the 1950s. The silica businesses of the two companies are complementary, as Evonik focuses on industrial applications, particularly tires and coatings, while Huber is a leader in dentifrice and consumer goods. For the 2016 financial year, Huber Silica is expected to achieve sales of close to $300 million, with an EBITDA of $60 million. The transaction is expected to be completed in the second half of 2017.