Home / News / Evonik completes acquisition of Monarch Catalyst

Evonik completes acquisition of Monarch Catalyst

09 Jun '15

2 min read

Germany based Evonik Industries AG announced the completion of the acquisition of India based Monarch Catalyst Pvt. Ltd.

As per an Evonik press release, an agreement to acquire Monarch Catalyst had been announced in March 2015, subject to certain closing conditions.

Monarch employs approximately 300 employees and will be renamed to Evonik Catalysts India Pvt. Ltd and all of Evonik’s future catalyst activities in India will be done through the newly acquired company.

Evonik produces specialty catalysts, custom catalysts and catalysts components for the life sciences & fine chemicals, industrial & petrochemical and polyolefines market segments.

According to Evonik, Monarch’s global activities in oils & fats hydrogenation catalysts range is a broadening of the Evonik catalysts portfolio.

“The activated base metal catalysts and precious metal catalysts portfolio strengthens Evonik’s positions in India and the Asia region,” it added.

“Monarch’s existing customer base will continued to be served through the established sales channels,” the catalysts producer informed.

COO at Evonik, Patrik Wohlhauser sees this acquisition as an excellent opportunity to strengthen the catalysts business in the growing Asian region.

"With this acquisition we complement our competencies in innovation for products and technologies to make our customers’ processes and products more efficient," Wohlhauser said.

"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,” he too added.

"With Monarch’s business in oils & fats hydrogenation catalysts, we are now one of the globally leading suppliers in this growing market segment,” Wilfried Eul, head of Evonik’s Catalysts division said.

"With the new production site, we will be in an even better position to serve our customers in the life sciences & fine chemicals market segment in India and also Asia", Eul observed.

Evonik’s catalysts production network consists of sites in Germany, USA, Brazil, Japan, China and now an additional tolling site for precious metal catalysts in India.

Evonik is active in over 100 countries around the world and employs more than 33,000 employees and in 2014 generated sales of around €12.9 billion. (AR)

Fibre2fashion News Desk - India