Evonik Industries AG recently announced it has completed the activities to acquire the specialty additives business (Performance Materials Division) of Air Products Inc. for $3.8 billion by the end of the year as planned. The closing was scheduled for January 3.

The successful completion of the acquisition paves the way for swiftly merging the activities of Evonik and the acquired units of the Air Products Performance Materials business,” said Klaus Engel, chairman of the executive board of Evonik Industries AG. “It puts Evonik in an excellent position for further profitable growth in the attractive specialty additives market.”

“We are well prepared to ensure a smooth business transition and a successful integration. To this end, we have worked intensively with Air Products over the past few months to develop integration plans,” confirmed Ralph Sven Kaufmann, COO and executive board member responsible for the integration.

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