Evonik is new name for Degussa and its parent group
Specialty chemicals and polymers group Degussa is to go by a new name after parent group RAG Beteilungs unveiled its new identity as Evonik Industries. The move comes ahead of a planned entry to capital markets in the first half of 2006.
As well as chemicals and polymer-related materials, Evonik Industries comprises energy and real estate businesses. It does not include the under-performing coal business that will retain the RAG name and which will now be run separately.
Dr. Werner Müller, CEO of Evonik Industries, said: “Evonik is now entering a new era in group development. We are well positioned, and are looking forward to joining the capital market.”
The company is aiming to expand its positions in high-growth markets, in particular targeting products that help increasing global energy efficiency.
“We are focusing here strongly on profitable growth, and plan to conquer the markets of the future with new, intelligent, leading products,” said Müller.
