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Evonik recently announced that it will merge its specialty methacrylate monomers product line with its current oil additives business to become the new oil additives business line within the resource efficiency segment. The application monomers line was formerly part of Evonik’s methacrylate business, which is currently in the process of being sold to U.S.-based private equity firm Advent International.
"The integration just made sense, since oil additives is the specialist for polyalkylmethacrylate-based additives for the lubricant industry," explains Martin Trocha, head of the application monomers product line. "The businesses jointly have a substantially larger specialty monomer production setup. Their innovation capabilities mesh very well with each other. Together, this will increase our ability to offer new and customized solutions to our customers."
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 should 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," adds Doris Schmidt, head of the oil additives business line. "Lubricant and oil and gas customers will continue to benefit from our most advanced flow-efficiency solutions developed by our oil additives specialists."
The integration is currently underway and being executed in parallel to the sale of Evonik’s methacrylate business.
Evonik’s international headquarters and research centers for the new oil additives business line will be located in Germany, along with technical centers in Singapore, Japan and Horsham, Pennsylvania. The joint business will use production facilities in the United States, Canada, Germany, France, China and Singapore.
For more information, visit www.evonik.com.