ESSEN, Germany—Evonik Industries A.G. has acquired Silbond Corp., a supplier of silicic acid esters for electronics and chemical applications. The sale was completed late last month.
The firms would not disclose financial details, but Evonik said the price was in the mid-double-digit million Euro range.
Silbond consists of approximately 60 employees.
“Silbond has aligned its specialty product portfolio to attractive growth markets,” said Patrik Wohlhauser, Evonik's chief operating officer. “With the acquisition of the company, we are further strengthening our leading position as a whole with regards to silanes and are improving our position in relation to technology and profitability.”
Evonik said the acquisition opens the door for the firm to enter the North American region. Silbond is headquartered in Weston, Mich. Evonik produces functional silanes in Mobile, Ala.
Evonik produces specialty chemicals and has sites in more than 100 countries with more than 33,000 employees. It's 2012 sales were approximately $18.6 billion.