Ecovyst sells AMC to Technip

Ecovyst sells AMC to Technip

Ecovyst Inc, a provider of sulphuric acid, sulphuric acid regeneration services and catalyst activation services, has announced today that it has completed the sale of its Advanced Materials & Catalysts segment to Technip Energies. The company expects net proceeds after taxes and transaction expenses to be approximately $530 million.

“We believe the sale of our Advanced Materials & Catalysts segment creates significant value for our stockholders by allowing us to realize the intrinsic value of the business,” said Kurt J. Bitting, Ecovyst’s Chief Executive Officer. “Net proceeds from the sale will provide for significantly reduced leverage and enhanced financial flexibility that we believe will support the implementation of our growth strategies as well as the active return of capital to stockholders through our existing stock repurchase authorisation,” added Bitting. “We want to thank the Advanced Materials & Catalysts team for their valued contributions to Ecovyst, and we wish them continued success as part of Technip Energies.”

Arnaud Pieton, CEO of Technip Energies, commented: “Closing this transaction is an important milestone in the evolution of Technip Energies. With Advanced Materials & Catalysts, we are combining a differentiated catalysts and advanced materials platform with our process technologies and engineering expertise, creating an integrated offering that helps our customers to improve efficiency, reliability and emissions performance across their assets. We are very happy to welcome Advanced Materials & Catalysts teams and look forward to working together to deliver the next phase of growth for our customers and stakeholders.”