Evonik to Reorganize Coatings & Adhesive Resins Business Line

Evonik announced that it is reorganizing two business lines to strengthen the company’s growth prospects. Coating & Adhesive Resins and Health Care will focus on and concentrate future investments in their respective core businesses. According to Evonik, the remaining businesses outside these cores will be sold to new owners or incorporated into partnerships. The company also stated that in individual cases, businesses will be discontinued in a socially responsible manner. In total, businesses affected by these changes generate sales of €350 million.

“Our industry is undergoing fundamental structural change worldwide,” said Christian Kullmann, chairman of the executive board of Evonik. “We will align all our resources with our strongest businesses. Only then can we seize growth opportunities in these markets at the necessary speed. Conversely, this also means that for businesses where we cannot offer appropriate prospects at Evonik, we will implement solutions outside Evonik.”