Evonik Industries AG has acquired Silbond Corp., Weston, MI, a leading supplier of silicic acid esters. The transaction, with a purchase price in the mid-double-digit million euro range, closed on Feb. 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.
“Silbond has aligned its specialty product portfolio to attractive growth markets,” Patrik Wohlhauser, member of the Executive Board of Evonik Industries and COO, said. “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.”
“The acquisition of Silbond opens up the door for us into the attractive North American region,” Dr. Johannes Ohmer, head of the Inorganic Materials Business Unit in the Resource Efficiency Segment, added. “We are now able to supply our customers with TEOS from a local production capacity and monitor future growth in the silicic acid esters market.”
Evonik already produces functional silanes at its sites in Rheinfelden (Germany), Antwerp (Belgium), Rizhao (China) and Mobile, AL. 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.
The overall market for functional silanes, which includes silicic acid esters, is growing faster worldwide than the global gross domestic product. The growth is driven by the increasing demand for new applications such as high-performance insulation materials. Another growth driver is the increasing demand from emerging countries.