06.05.2016 13:40:54

Air Products To Sell Performance Materials Division To Evonik For $3.8 Bln

(RTTNews) - Air Products (APD) announced an agreement to sell the Performance Materials Division of its Materials Technologies segment to Evonik Industries AG for $3.8 billion. Air Products also intends to spin-off its Electronic Materials Division to shareholders as a separate public company, called Versum Materials.

"The sale of PMD is consistent with the long-term strategy for Air Products that we announced in September 2014," said Air Products' Chairman, President and CEO, Seifi Ghasemi.

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