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Air Products, Evonik Announce $3.8 Billion Deal

Evonik acquires Air Products' PMD division.

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By: Christine Esposito

Editor-in-Chief

Air Products has signed a definitive agreement today to sell the Performance Materials Division (PMD) of its Materials Technologies segment to Evonik Industries for $3.8 billion in cash.   PMD generated $1.04 billion in revenue for the 12 months ending March 31, 2016. PMD’s business includes a specialty additives businesses, which accounted for approximately 28% of rvenues. PMD has approximately 1,100 employees and includes major production facilities in the U.S., Germany, the United Kingdom, ...

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