Edison, N.J.—TheJ.M. Huber Corporationhas completed the sale of the Silica business unit ofHuber Engineered Materials(HEM) toEvonik Industries AG, a global specialty chemicals company. The $630 million transaction, completed after approvals from the European Commission and other global regulatory bodies, transferred ownership of the HEM Silica facilities in North America, Europe and Asia to Evonik, effective Sept. 1.
Proceeds from the sale will enable Huber to invest and expand its product portfolio in other areas, including potential future acquisitions of specialty chemicals or materials businesses. For Evonik, bringing together the two diverse Silica businesses will further improve the company’s value proposition as an integrated global provider, better positioned to serve a broader base of customer needs, particularly in North America and Asia.
The Silica business has been a fundamental part of Huber for more than 60 years, providing a runway for the company’s global diversification into engineered materials.
“The strength of our Huber Silica business was built, in part, from the collaborative spirit of our Silica employees, who adhere to best practices in Environment, Health, Safety and Sustainability, ethical behavior, respect for people and operational excellence. These guiding principles at Huber are the foundation of our company culture and ability to deliver superb value for our customers,” Mike Marberry, Huber president and CEO, said. “We thank our Silica employees and know their talents and expertise will be highly valued by Evonik.”
Huber will continue as usual to serve its HEM customers who use other non-silica materials such as ground calcium carbonate and fire retardant additives across a broad range of applications. As an expert in developing and manufacturing specialty engineered materials, HEM takes great pride in delivering exceptional products and service to its industrial customers worldwide.