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Evonik Industries

#1881

Rank

$8.85B

Marketcap

DE Germany

Country

Evonik Industries
Leadership team

Mr. Christian Kullmann (CEO & Chairman of the Exec. Board)

Dr. Harald Schwager (Deputy Chairman of the Exec. Board)

Ms. Ute Wolf (CFO & Member of Exec. Board)

Products/ Services
Chemical, Chemical Engineering, Industrial, Industrial Engineering
Number of Employees
20,000 - 50,000
Headquarters
Essen, Nordrhein-Westfalen, Germany
Established
2007
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EVK.DE
Social Media
Overview
Location
Summary
Evonik Industries AG engages in the specialty chemicals business. It operates through Specialty Additives, Nutrition & Care, Smart Materials, Performance Materials, and Technology & Infrastructure segments. The Specialty Additives segment provides polyurethane additives, organically modified silicones, isophorones, epoxy curing agents, oil additives, fumed silicas, matting agents, TAA and TAA derivatives, and acetylenic diol-based surfactants for consumer goods and specialized industrial applications. The Nutrition & Care segment offers amphoteric surfactants, ceramides, phytosphingosines, oleochemicals, quaternary derivatives, amino acids and amino acid derivatives, synthesis products, pharmaceutical polymers, and DL-methionine for use in consumer goods, animal nutrition, and healthcare products. The Smart Materials segment provides hydrogen peroxide, peracetic acid, activated nickel catalysts, precious metal powder catalysts, oil and fat hydrogenation catalysts, amorphous polyalphaolefins, polybutadienes, polyester resins, thermoplastic and reactive methacrylate resins, PEEK, polyamide 12, organosilanes, chlorosilanes, fumed silicas, fumed metal oxides, and precipitated silicas for the automotive, paints, coatings, adhesives, construction, and various other sectors. The Performance Materials segment produces polymer materials and intermediates, including butene-1, DINP, isononanol, cyanuric chloride, alkoxides, and superabsorbent for rubber, plastics, and automotive industries. The Technology & Infrastructure segment provides site management, utilities and waste management, technical, process technology, engineering, and logistics services. It operates in the Asia-Pacific, Europe, the Middle East, Africa, Central and South America, and North America. The company was founded in 1873 and is headquartered in Essen, Germany. Evonik Industries AG is a subsidiary of RAG-Stiftung.
History

World War II and involvement in the Holocaust

During World War II, one of Degussa's subsidiaries, Degesch , was the main manufacturer and distributor of the chemical Zyklon B, which was used to murder people in gas chambers of German extermination and concentration camps during the Holocaust. Furthermore, gold dental fillings, which had been forcefully removed from the mouths of concentration-camp inmates, had been processed by Degussa. The company's partnership Deutsche Gasrusswerke employed Jewish slave laborers at Gleiwitz concentration camp, a subcamp of Auschwitz. Degussa estimated its war losses at 111 million Reichsmarks, almost USD$0.5 billion in 2012 dollars.In 1998, Degussa requested the American historian Peter Hayes to clarify the company history during the Third Reich.While constructing the Holocaust Memorial in Berlin, it became public that the plasticizer and the anti-graffiti coating of the memorial were produced by Degussa, resulting in a pause of the construction works until the matter is clarified. In November 2003 the memorial's trustees decided to finish the building with the involvement of Degussa.

After World War II

In 2006, RAG acquired Degussa AG, which was later renamed Evonik-Degussa GmbH.

Historically, Evonik Industries' businesses were part of RAG activities. The idea of splitting the company was put forward in 2005. The background of this idea was that RAG's core business of coal mining is carried out under government contract in Germany, while businesses transferred to Evonik compete in international markets. This structure did not permit the payment of dividends to the shareholders, which limited shareholders' readiness to inject equity into the RAG, which thereby restricted the company's ability to access fresh capital. As the first step, RAG's shareholders sold their shares to RAG foundation to split RAG.

The Foundation was established on 10 July 2007, and Evonik Industries was created on 12 September 2007.

The original plan foresaw the IPO of Evonik Industries in the first half of 2008. However, this plan was postponed until mid-2010 at the earliest, and the RAG Foundation started to look for strategic investors, while still holding on to the plans for a midterm IPO. In June 2008, the private equity firm CVC Capital Partners bought a stake of 25.01% in the company. Among many other private equity investors who bid for the stake , Russian Gazprom was reported to have considered buying a stake in Evonik Industries. The IPO, by now planned for fall of 2011, was once again postponed in September 2011, this time citing the "current state of financial and capital markets and their prospects."

RAG Foundation had planned for Evonik's IPO to take place in 2012, but this was postponed as a result of poor market conditions. Evonik shares have been traded on the Frankfurt Stock Exchange since 25 April 2013. Prior to the IPO the company had given institutional investors the opportunity to acquire around 14% of the shares for €2 billion.Since 5 March 2015, the shareholding structure of the Evonik Industries AG is composed as follows:

67,9%: RAG Foundation

14,0%: Gabriel Acquisitions GmbH

18,1%: Free float

2012 cyclododecatriene plant fire

In March 2012, a fire at the Degussa plant in Marl, stopped production of cyclododecatriene for a duration of several months. The plant produced a substantial proportion of the world's production of CDT, particularly that needed to produce laurolactam, a precursor to the polyamide PA12. This shortage in turn led to concerns for global production of finished goods, particularly in the automotive industry. Biobased polyamides, not dependent on laurolactam or CDT, have been put forward as alternative materials.

Mission
As the builders of the future, we're working to improve people's lives. By thinking beyond chemistry. Today and tomorrow.
Vision
Our vision is to be the world’s leading innovative specialty chemicals provider and to create value for our customers and stakeholders through sustainable solutions.
Key Team

Mr. Thomas Wessel (Chief HR Officer, Labor Relations Director & Member of Exec. Board)

Dr. Wilfried Ostendorf (Head of Production and Technology)

Mr. Tim Lange (Head of Investor Relations)

Mr. Thomas Mahlstedt (VP M&A, Corp. Legal & Compliance)

Christian Schmid (Head of Corp. Communications)

Mr. Matthias Creutz (Head of Supply Chain Management & Production and Head of Controlling Resource Efficiency)

Dr. Gerard Jacques Raymond Berote (Managing Director of Operations In Taiwan)

Recognition and Awards
Evonik Industries has received multiple awards for its sustainability and innovation efforts. These include the Sustainability Award from the German Ministry of the Environment, the European Award for Environmental Excellence, the ICIS Best Managed Chemicals Company Award, and the World Business Council for Sustainable Development’s “Business for a Better World” award.
References
Evonik Industries
Leadership team

Mr. Christian Kullmann (CEO & Chairman of the Exec. Board)

Dr. Harald Schwager (Deputy Chairman of the Exec. Board)

Ms. Ute Wolf (CFO & Member of Exec. Board)

Products/ Services
Chemical, Chemical Engineering, Industrial, Industrial Engineering
Number of Employees
20,000 - 50,000
Headquarters
Essen, Nordrhein-Westfalen, Germany
Established
2007
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EVK.DE
Social Media