Evonik is merging its specialty methacrylate monomers - the Applications Monomers Product Line - with its current oil additives business to become the new Oil Additives business line within the Resource Efficiency segment.
Application Monomers were formerly part of the Methacrylate business of Evonik, which is currently in the process of being sold to US-based private equity firm Advent International.
“The integration just made sense since Oil Additives is the specialist for Polyalkylmethacrylate (PAMA) based additives for the lubricant industry. The businesses jointly have a substantially larger specialty monomer production set-up. Their innovation capabilities mesh very well with each other. Together, this will increase our ability to offer new and customized solutions to our customers,” explains Martin Trocha, Head of the Application Monomers Product Line.
By retaining the specialty methacrylate monomers business within Evonik and integrating it into Oil Additives, their similar business models with a customer solution-centric approach will allow them to focus on developing and producing specialty and high-performing products and technologies.
“Combining both businesses will lead to broader production capabilities and a more comprehensive innovation landscape. Lubricant and oil & gas customers will continue to benefit from our most advanced flow efficiency solutions, developed by our Oil Additives specialists. Additionally, we stay fully committed to our customers in the coatings, and other specialty markets by providing tailor-made solutions from our specialty monomers group”, adds Doris Schmidt, Head of the Oil Additives Business Line.
The integration is currently underway and being executed in parallel to the sale of Evonik’s Methacrylate business.
The international headquarters and research centers of the new Oil Additives business line are located in Darmstadt, Germany, in addition to technical centers located in Shanghai, Singapore, Tsukuba (Japan) and Horsham, PA (USA). The joint business uses production facilities in Mobile, AL (USA), Houston, TX (USA), and Morrisburg, Ontario (Canada), as well as in Worms, Darmstadt, and Weiterstadt (Germany), Lauterbourg (France), Shanghai (China), and Singapore.
Source: http://www.evonik.com