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August 1, 2016
By: TOM BRANNA
Editor
Air Products signed a definitive agreement to sell the Performance Materials Division (PMD) of its Materials Technologies segment to Evonik Industries for $3.8 billion in cash. PMD’s sales topped $1 billion for the year ended March 31, 2016. PMD’s business includes specialty additives businesses, which accounted for approximately 28% of revenues. PMD has approximately 1,100 employees and includes major production facilities in the US, Germany, the United Kingdom, China and Japan. Its products...
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