Evonik Industries is formally known as Degussa, a wholly owned subsidiary of the RAG group, and is a specialty chemical company. It claims to be the third largest chemical company in Germany, the world's seventh largest chemical company and the world's number one in speciality chemicals. 
In 2008, Evonik Industries had a workforce of around 40,767, generated sales of Euro16bn and had customers in more than 100 countries.
History
On 9 February 2001, two global producers, Degussa-Huls and SKW, came together and formed the new Degussa AG. In March 2001, Laporte, a UK-based fine and performance chemicals company, joined Degussa to form one of the world's leading major speciality chemical companies.
On 12 September 2007, Degussa was renamed Evonik Chemicals and is part of Evonik Industries.
Company movements
In October 2009, Evonik sold its specialty chemicals unit AlzChem to BluO. For more on this please see Germany's Evonik sells AlzChem Group to BluO for €78.5m on ICIS news. The deal was first announced in September 2009.
Also in October 2009, Evonik agreed to acquire Eli Lilly’s Tippecanoe Laboratories manufacturing facility in Lafayette, Indiana. For more on this story please see Evonik expands US synthesis business with Eli Lilly acquisition on ICIS news.
Please see Evonik, Cristal Material form glass lenses venture for LEDs on ICIS news
In November 2008, Evonik sold its Seal Sands, UK, fine organics business to local management. Financial terms of the deal were not disclosed. The management buyout team have established a new company, Fine Organics Limited.
Evonik’s owner RAG sold a 25.01% stake in the company to private equity firm Capital Partners (CVC) for €2.4bn. RAG also said that it plans to float the company by 2013.
An Evonik IPO had previously been planned for 2008.
In July 2008, Evonik Industries closed the sale of the Initiators group to the US investor Speyside Equity for an undisclosed purchase price. Following approval by relevant bodies and antitrust authorities, the transaction was closed on 30 June 2008.
In May 2008, Evonik Industries completed the sale of its coal tar chemicals firm Rutgers Chemicals to private equity investor Triton for an undisclosed sum. Evonik decided to divest Rutgers as part of its strategy to focus its chemicals business area on specialty chemicals.
Evonik is separated into three segments: Chemicals, Energy and Real Estate.
Chemicals
Technology Specialities
This division comprises of business units that are based on special technologies, such as synthetic building blocks for the pharmaceuticals industry and biodiesel catalysts.
The business unit consists of:
Industrial chemicals
Inorganic materials
Consumer Solutions
The Consumer Solutions business units include:
Consumer specialties
Health and Nutrition
Specialty Materials
The Specialty Materials segment comprises of high-performance material businesses. Many of the products are manufactured from methyl methacrylate (MMA). The business units include:
Coatings and additives
Performance Polymers
Energy
Energy
Real Estate
Real Estate
Evonik Industries
Strategy & Financial Highlights
Evonik states that it has a clear ongoing strategy. It is concentrating on achieving ambitious growth and profitability targets. Its goal is not “simply to be a specialty chemicals company, but to rank among the best”. That it says is the purpose of the “Evonik 2008” strategy programme. (Edited from: company website). ICIS also provides you with key financial data listed in table form.
More about Evonik Industries Strategy & Financial Highlights
News:
Get news on Evonik Industries plus the latest chemical news, information, data, market movements and analysis
in one place with ICIS news
Search:
Find details on other chemical companies and suppliers with
ICIS search
Newsletters:
ICIS offers a range of FREE e-newsletters to ensure that you don't miss out on the latest development and key market intelligence in your industry. If you want the latest news sent to your inbox, sign up for ICIS e-newsletters today.
Plants and projects:
Find out more about current and planned chemical plants and projects by subscribing to our comprehensive database