Evonik Acquires US Company Silbond
Evonik Industries AG, Essen, Germany, has acquired Silbond Corp. (Weston, Michigan, USA), 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 with a promising future—for example in the electronics industry or in chemical applications such as coatings. The most important silicic acid ester is Tetraethoxysilane (TEOS) which is manufactured by Silbond.
Evonik already produces functional silanes at its sites in Rheinfelden (Germany), Antwerp (Belgium), Rizhao (China) and Mobile (USA). With the Weston site, the Group is now extending its production network with efficient technology for silicic acid esters, primarily for the attractive North American region.
With its TEOS specialty business, Silbond supplies end markets with above-average growth. These markets include the electronics industry as well as markets for chemical applications with an annual growth of 5 to 6 percent. In addition, TEOS is used as a binder for foundry molds and in anti-corrosion paints. There is further growth potential when connecting it to the current growth fields of the Resource Efficiency Segment, such as insulation. The company has about 60 employees.
The silanes portfolio of Evonik comprises chlorosilanes as well as organofunctional silanes and will be perfectly supplemented by the Silbond business. The specialty chemicals company has an annual overall capacity for silanes of about 300,000 metric tons per year, which are sold to the automobile, construction, plastics and electronics industries. The silanes are used in adhesives, sealants, paints and coatings, architectural protection, optical fibers and semiconductors, as well as in tires and rubber.
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