Evonik acquires Porocel for $210mn to accelerate growth of catalysts business

Evonik acquires Porocel for $210mn to accelerate growth of catalysts business

Evonik is acquiring the Porocel Group for $210mn to accelerate the growth of its catalysts business. Based in Houston, Texas, Porocel offers a technology for highly efficient rejuvenation of desulphurisation catalysts, which are in increasing demand to produce low-sulphur fuel. Rejuvenation reduces carbon-dioxide emissions by more than 50% compared with the production of new desulphurisation catalysts. In addition, Porocel has available production capacity, enabling Evonik to speed up expansion of its existing business with fixed-bed catalysts."This acquisition is the next logical step in the strategic development of our portfolio. Our focus is on stable and high-margin specialty chemicals,“ said Christian Kullmann, chairman of the executive board. "We are systematically expanding the share of our specialty businesses - and that at an attractive