German chemical and plastics producer Evonik (Essen; www.evonik.com) is acquiring the high-concentrates additive compounding business of US conglomerate 3M (St. Paul, Minnesota; www.3m.com) for an undisclosed sum. Evonik said the profitable business will enhance its own speciality additives portfolio and allow it to offer solid additives. Part of the deal is the “Accurel” brand produced at Obernburg / Germany, along with the production facility at the site. All 25 employees will transfer to the new owner.

The transaction is expected to close in the first quarter of 2018, subject to all approvals, and the activities incorporated into the Essen-based company’s Interface & Performance business line. Evonik said the high-concentrates compounding technology, which allows plastics producers to introduce large volumes of additives into a polymer matrix using a solid polymer carrier, will allow it to target new applications, for example, in the packaging industry. With the acquisition, the company will be able to “significantly expand” its product offering, said Dietmar Schaefer, head of the business line.