German specialty chemicals group Evonik Industries AG has recently signed an agreement with Mumbai-based Monarch Catalyst Pvt Ltd, Dombivli to acquire 100% of the company’s shares. The acquisition, Evonik says is in line with its thrust to strengthen its global catalysts business. The transaction is expected to close during the first half year of 2015 after the required approvals have been received. The parties have agreed to keep the purchase price confidential.
Evonik with its catalysts business produces specialty catalysts, custom catalysts and catalysts components for the Life Sciences & Fine Chemicals, Industrial & Petrochemical and Polyolefines market segments. According to Evonik, the acquisition in India with annual sales in the low double-digit million Euro range complements its leading positions in activated base metal catalysts and precious metal catalysts. The family-owned Monarch’s global oils & fats hydrogenation catalysts business is a broadening of the Evonik catalysts portfolio.
(PRA)
