Technip Energies to acquire advanced materials and catalysts segment from Ecovyst for $556m.

Technip Energies, a technology and engineering company, agreed to acquire advanced materials and catalysts segment from Ecovyst, a global provider of advanced materials, for $556m. "The Advanced Materials & Catalyst segment is a high-quality business with attractive margins. We determined that the market undervalued the segment, prompting a strategic review. We believe this sale, approved by our Board, will allow us to realize its value for our stockholders," Kurt J. Bitting, CEO Ecovyst.