Evonik Industries AG (Essen, Germany; www.evonik.com) has signed an agreement with Monarch Catalyst Pvt. Ltd., Dombivli (India) to acquire 100% of the company’s shares. The transaction is expected to close during the first half year of 2015 after the required approvals have been received. The parties have agreed to keep the purchase price confidential. With annual sales in the low double-digit million € range, this bolt-on acquisition in India complements Evonik’s leading positions in activated base-metal catalysts and precious-metal catalysts. Monarch’s global oils & fats hydrogenation catalysts business broadens the Evonik catalysts portfolio. Monarch Catalyst has about 300 employees.
Evonik to acquire Monarch Catalysts
| By Mary Bailey