Evonik's €3bn investment to improve performance

21 April 2008 06:23  [Source: ICIS news]

SINGAPORE (ICIS news)--Germany-based Evonik expects the 3bn ($4.76bn) investment in its energy and chemical businesses to cause a surge in earnings from 2010 onwards, its chairman Werner Muller said in a statement released on Sunday.

Overall, the specialty chemicals group had earmarked the amount for capital investment – including pro rata investment in energy efficiency – in the years 2008 and 2009, he added. 

It intended to invest up to 2bn from 2008 to end-2010 on energy-efficient infrastructure and technologies, he said.

In its energy sector, the group planned to exploit the potential of local energy resources and focus on the construction of state-of-the-art infrastructure for the production of renewable energies from geothermal heat, biomass and biogas.

The group would also consolidate its position as the global leader for chloro- and monosilanes for the photovoltaics industry, and increase its capacities in its chemical business sector.

($1=€0.63)


By: Serene Cheong
+65 6780 4359



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