Evonik completed the acquisition of the Porocel Group, Houston, TX, USA, for US$ 210 million, as planned. Porocel’s global activities in the field of desulfurization catalyst rejuvenation, sulfur recovery catalysts, and alumina-based purification adsorbents represent an expansion of Evonik’s catalyst portfolio. Evonik is integrating the company into the Smart Materials Business Unit.
With the technology for the highly efficient rejuvenation of desulfurization catalysts, Evonik will be able to serve the growing market for low-sulfur fuels. Catalyst rejuvenation reduces CO2 emissions, contributes to sustainability and the transition to the circular economy, thus enabling the reduction of the carbon footprint.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Porocel generated sales of approximately US$ 100 million and EBITDA of about US$ 23 million in 2019. The EBITDA margin at around 23 % is above Evonik’s target range of 18–20 %.
- Evonik Industries AG, Essen, Germany