Acquisitions Evonik Industries Completes Acquisition of Monarch Catalyst
Evonik Industries, announces the successful completion of the acquisition of Monarch Catalyst of Dombivli (India). An agreement to acquire Monarch Catalyst had been announced in March 2015, subject to certain closing conditions.
Essen/Germany – The company employs approximately 300 employees and will be renamed to Evonik Catalysts India Pvt Ltd. All of Evonik’s future catalyst activities in India will be operated through the newly acquired company.
Patrik Wohlhauser, Chief Operating Officer and member of Evonik’s Executive Board sees this acquisition as an excellent opportunity to strengthen the catalysts business in the growth region Asia. “The Catalysts Business Line belongs to the core businesses in Evonik’s Resource Efficiency Segment. With this acquisition we complement our competencies in innovation for products and technologies to make our customers’ processes and products more efficient,” comments Wohlhauser. “The timing of the acquisition fits also well with the changes in India, where the political leaders have put economic growth again on the top of the agenda to leverage the great growth potential the sub-continent of India has,” says Wohlhauser.