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Diversified Chemicals

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Evonik buys Silica business of J.M. Huber for $630 mln

Friday, 9 Dec 2016 09:50am EST

Evonik Industries AG : Acquires Silica business of J.M. Huber for $630 million . Transaction is scheduled to be completed in second half of 2017 . Financing has been secured through evonik's own funds and committed credit facilities . This enables Evonik to expand its position in North America and Asia in this profitable and resilient business . For 2016 financial year, Huber Silica is expected to achieve sales of close to $300 million and an EBITDA of $60 million . Acquisition is likely to have a positive impact on Evonik's adjusted earnings per share as early as first full financial year . Through ideal complementarity of two business areas, Evonik expects to generate synergies of $20 million .Expect to have all synergy measures implemented by 2021.

Zhejiang Jiangshan Chemical to acquire stakes in Zhejiang Communications Construction

Monday, 31 Oct 2016 07:10am EDT

Zhejiang Jiangshan Chemical Co Ltd <002061.SZ> :Says it signs framework agreement to acquire stakes in Zhejiang Communications Construction Group Co.

Mitsubishi Chemical and Ube Industries will merge chinese electrolyte operations next April - Nikkei

Thursday, 13 Oct 2016 06:03pm EDT

Nikkei: Mitsubishi Chemical and Ube Industries will merge chinese electrolyte operations next April - Nikkei .Mitsubishi Chemical and Ube Industries will consider similar mergers in the U.S. And Europe later - Nikkei.

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