LONDON (ICIS)--Evonik is making a double-digit million-euro investment in the expansion of its fumed silica capacities in Antwerp, Belgium, the German specialty chemicals firm said on Thursday.
With an expected completion date in mid-2019, the investment will be a boost for distinct specialty chemicals businesses, the company said.
"The investment is a good fit for our strategy to concentrate more on distinct specialty chemicals businesses and to gradually create a more balanced portfolio," says Christian Kullmann, Evonik’s chairman.
"With this investment in the silica business, which has low cyclicality, we are consistently following our growth course and solidifying our position as a leading global provider.”
Evonik’s financial results for the second quarter are due to be released on 3 August.