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Evonik Industries AG has acquired Silbond Corp, a leading supplier of silicic acid esters. The transaction, with a purchase price in the mid-double-digit million Euro range, closed on February 28, 2014.
As a special group of functional silanes, silicic acid esters are used in a wide variety of applications including coatings and the electronics industry. The most important silicic acid ester is Tetraethoxysilane (TEOS), which is manufactured by Silbond.
Patrik Wohlhauser, member of the Executive Board of Evonik Industries and COO, said: "Silbond has aligned its speciality product portfolio to attractive growth markets. With the acquisition of the company we are further strengthening our leading position as a whole with regards to silanes and are improving our position in relation to technology and profitability.”
Evonik already produces functional silanes at its sites in Rheinfelden (Germany), Antwerp (Belgium), Rizhao (China) and Mobile (USA). With the Silibond site, the Group is now extending its production network with efficient technology for silicic acid esters, primarily for the attractive North American region.