Tapping new promising growth market for its high-performance polymers business
Evonik Industries AG, Essen, Germany, is pleased to announce its acquisition of London based Membrane Extraction Technology (MET) Ltd. The transaction has been completed by March 1. The acquisition is an integral part of Evonik’s strategy to invest in attractive developing markets driven by the mega trend “Resource Efficiency”.
The MET acquisition strengthens Evonik’s P84® fibers and high-performance polymers business. Dr. Joachim Leluschko, head of Evonik’s High Performance Polymers Business Line, noted that the investment represents a significant step towards expanding the high-performance polymers business and enhancing it with leading technologies for tomorrow and beyond. “There will be a fast growing demand for energy & environmental friendly solutions like membrane based technologies. MET’s proprietary technology complements Evonik’s process competence and global market presence very well and fastens our access to this attractive market.” Professor Andrew Livingston, CEO of Membrane Extraction Technology, added: “The synergies between MET and Evonik make a compelling case for this excellent deal and will make the combination company a leading player in Organic Solvent Nanofiltration (OSN).”
The membrane based technology of the start-up company MET, which can be applied to a wide range of chemical processes, significantly simplifies product purification and generates substantial energy cost savings compared to conventional separation technologies.
Evonik Industries is the creative industrial group from Germany which operates in three business areas: Chemicals, Energy and Real Estate. Evonik is a global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our strengths are creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2008 about 41,000 employees generated sales of about €15.9 billion and an operating profit (EBITDA) of about €2.2 billion.
Membrane Extraction Technology (MET) Ltd is a chemical separations specialist supplying the pharmaceutical and fine chemicals industries. MET has an international client base spanning the USA, Europe and the Far East. MET has added significant value to our clients’ applications through a range of proprietary, patented membrane technologies. With a proven track record for contract research and process development, continually reviewing and developing new techniques to provide customers with the tailored solutions they require. (For more information: www.membrane-extraction-technology.com )
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.