Boyd Corporation, a leading global provider of engineered, specialty material-based energy management and sealing solutions, today announced it has entered into an agreement to purchase the Solimide® Foam business of Evonik Industries.
Boyd’s acquisition of Solimide®, a family of low-density polyimide foams used across the globe as high performance thermal and acoustic insulation, signifies the Modesto-based company’s focus on innovative, engineered materials within its core and adjacent markets.
“Acquiring Evonik’s Solimide® Foam business represents a unique opportunity for our company to obtain a high-performing technology that positions us to realize significant growth within key commercial aerospace, defense and building infrastructure segments,” said Mitch Aiello, Boyd Corporation President and CEO. “By applying Boyd’s specialty material and energy management application expertise, leveraging our sales and distribution channels and our world-class supply chain, Solimide® Foams will help us better serve our rapidly expanding customer base.”
Originally designed by NASA, Solimide® Foam is the dominant global market leader within the defense industry as well as wide body and regional aircraft markets for mission-critical insulation solutions. Applications span multiple purposes including ducting and burn-through requirements as well as weight-critical, preeminent acoustic damping capabilities. Solimide® serves the market for high-end, light-weight and non-fibrous insulation solutions and is one of the lightest flexible foam materials available with characteristics that include:
- High and low temperature capability (wide range).
- Fire-resistant, extremely low smoke and gas emission.
- Good thermal and acoustic insulation.
- Significantly lighter than alternative products.
The acquired business will continue to operate under the Solimide® brand – a market standard for over 20 years. The company’s manufacturing site in Magnolia, Arkansas as well as its Allen, Texas administrative facility will be added to Boyd’s global footprint.
The sale is subject to customary closing conditions and approvals.