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 2009, Evonik Industries had a workforce of around 38,681 and generated sales of Euro13bn and had customers in more than 100 countries.
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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.
In July 2010, Evonik Industries
In June 2010, Evonik Industries acquired the precious metal powder catalysts business of Ravindra Heraeus. For more on this please see Evonik buys Indian precious metal powder catalysts business on ICIS news.
In March 2010, Evonik Industries acquired the methacrylate specialty esters business from Arkema. For more on this please see Evonik acquires Arkema’s methacrylate specialty esters business on ICIS news.
In December 2009, Evonik said it will focus on specialty chemicals, with its energy and real estate businesses managed as independent subsidiaries. For more on this please see Evonik focuses on chems by splitting off energy and real estate on ICIS news.
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.
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:
The Consumer Solutions business units include:
Health and Nutrition
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
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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
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