To strengthen its global catalysts business and broaden its portfolio, German chemical producer Evonik has agreed to acquire 100% of India-based Monarch Catalyst.

The transaction is expected to close during the first half of this year, following all approvals. The purchase price is not being disclosed.

Evonik's business line Catalysts is a globally leading producer of specialty catalysts, custom catalysts and catalyst components for the life sciences, fine chemicals, industrial and petrochemical /polyolefin market segments.

With annual sales in the low double-digit million euro range, Monarch, whose portfolio includes global oils & fats hydrogenation catalysts, complements Evonik's leading positions in activated base metal catalysts and precious metal catalysts, the Essen-based group said.

Monarch Catalyst employs around 300 People.