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Evonik Purchases Controlling Stake In Colloidal Silica Maker Harris & Ford Silco LLC

PARSIPPANY, N. J., April 15, 2010

Evonik Degussa Corporation has purchased a controlling interest in Harris & Ford Silco, LLC of Portland, Ore., from Indianapolis, Ind.-based Harris & Ford, LLC, for an undisclosed sum.

The company has been renamed Evonik Silco Materials, LLC and will become part of one of the world’s leading specialty chemicals companies. Financial details of the transaction were not disclosed.

"This is an important, strategic addition to Evonik’s Inorganic Materials Business (IM) Unit and further positions Evonik as a key supplier of specialized chemicals in high tech growth industries such as the semiconductor sector," said Jack L. Clem, Senior Vice President & General Manager of Evonik’s Inorganic Materials Business Line and head of the Business Unit’s North American activities. "With this transaction, Evonik will be able to provide our customers with high-quality and customized silica manufactured in an ultra clean environment."

Evonik Silco Materials manufactures colloidal silica and ultra-high purity silica, a key component of the Chemical Mechanical Polishing (CMP) process in the semiconductor manufacturing industry. Evonik Silco Materials’ proximity to the major semiconductor manufacturers on the West Coast and proprietary technology combined with Evonik’s world-class Research and Development (R&D), complimentary product portfolio, and close relationships with global corporations create a unique platform that strengthens the IM Business Unit and creates long-term growth through turnkey solutions for the CMP market.

Evonik Silco Materials is a leader in the development of colloidal silica and is a leading source of standard and custom, high-quality, low metals and ultra pure silica sols. In addition, each sol may be customized for particle size, stabilizing ion, pH, sodium content, particle size distribution, and concentration. The company will remain in Portland.

"This acquisition is good news for Evonik’s customers and customers of the newly-named Evonik Silco Materials, LLC," said Clem. "Colloidal silica is a growth market and Evonik is a growth-oriented company."

For additional information about Evonik in North America, please visit our website: www.evonik.com/north-america.

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  • About Evonik

    Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and reliability.

    Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.

    About Evonik Silco Materials:
    Evonik Silco Materials is a dynamic young company focused on the development of innovative ultr

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    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.