Specifically, Evonik will purchase R&D 1, R&D 3, a pilot plant, ancillary support buildings along with an additional 41 acres.
Terms of the deal, which is expected to close mid-2019, were not disclosed.
Approximately 215 Evonik employees currently work at the Trexlertown site, and the company expects to add up to 50 new positions there over the next 3 years.
“Since closing our purchase of the specialty materials business of Air Products in January 2017, we have searched the Lehigh Valley for a proper home for our offices and research and development capabilities,” said John Rolando, North America region president for Evonik. “Purchasing the existing facilities will allow us to retain the R&D capabilities, avoid business disruption and enable investments to the site to modernize and sustain the growth of our businesses here.”
Evonik’s Executive Board has approved funds for the separation and renovation of the acquired buildings upon closing.