Evonik Industries AGis a publicly-listed German specialtychemicalscompany headquartered inEssen,North Rhine-Westphalia,Germany. It is the second-largest chemicals company in Germany,[2]and one of the largest specialty chemicals companies in the world. It is predominantly owned by the RAG Foundation and was founded on 12 September 2007 as a result ofrestructuringof the mining and technology groupRAG AG.[3]
 | |
 Evonik's headquarters inEssen,Germany | |
| Company type | Aktiengesellschaft |
|---|---|
| FWB:EVK MDAX Component | |
| Industry | Specialty chemicals |
| Founded | 2007 |
| Headquarters | Essen,Germany |
Key people |
|
| Products | Chemicals |
| Revenue |  €12.199 billion(2017)[1] |
| €890 million(2020)[1] | |
| €465 million(2020)[1] | |
| Total assets | €20.897 billion(2020)[1] |
| Total equity | €8.099 billion(2020)[1] |
Number of employees | 33,106(2020)[1] |
| Website | evonik |
Evonik Industries united the business areas of chemicals,energyandreal estateof RAG, while mining operations continue to be carried out by RAG. Since then, the energy and real estate business areas have been divested, with no share being held in the former and a minority share still being held in the latter. Its specialty chemicals business generates around 80% of sales in areas where it holds leading market positions. Evonik Industries employs about 37,000 people and carries out activities in more than 100 countries. The operating activities are organized into six business units that are a part of the chemicals business area. Evonik is the main sponsor of the Germanfootball clubBorussia Dortmund.[4]
In 2022, Evonik's surfactant and specialty esters operations were acquired by Kensing.[5]
History
editWorld War II and involvement in The Holocaust
editDuringWorld War II,one of Degussa's(Deutsche Gold- und Silber-Scheide-Anstalt,"German Gold and Silver Refining" ) subsidiaries,Degesch(translation: German Corporation for Pest Control), was the main manufacturer and distributor of the chemicalZyklon B,which was used to murder people in gas chambers ofGerman extermination and concentration campsduringThe Holocaust.[6]Gold dental fillings, which had been forcefully removed from the mouths of concentration-camp inmates, were processed by Degussa.[6]The company's partnershipDeutsche Gasrusswerke(DGW) employed Jewish slave laborers atGleiwitz concentration camp,a subcamp of Auschwitz. Degussa estimated its war losses at 111 millionReichsmark,almostUS$0.5 billion in 2012 dollars.[7]
While constructing theHolocaust MemorialinBerlin,it became public that theplasticizerand theanti-graffiti coatingof the memorial were produced by Degussa, resulting in a pause of the construction works until the matter was clarified. In November 2003, the memorial's trustees decided to finish the building with the involvement of Degussa.[8]
After World War II
editIn 2006, RAG acquired Degussa AG,[9]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 ofcoal miningis 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 (RAG-Stiftung) to split RAG.
The Foundation was established on 10 July 2007, and Evonik Industries was created on 12 September 2007.
The original plan foresaw theIPOof 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.[10][11]In June 2008, the private equity firmCVC Capital Partnersbought a stake of 25.01% in the company.[12]Among many other private equity investors who bid for the stake (amongst themBlackstone Groupand3i), RussianGazpromwas reported to have considered buying a stake in Evonik Industries.[13]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."[14] 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 theFrankfurt Stock Exchangesince 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.[15]
Since 5 March 2015, the shareholding structure of the Evonik Industries AG is composed as follows:[16]
- 67,9%:RAGFoundation
- 14,0%: Gabriel Acquisitions GmbH (a company owned by funds advised byCVC Capital Partners)
- 18,1%: Free float
2012 cyclododecatriene plant fire
editIn March 2012, a fire at the Degussa plant[17]inMarl,[18]stopped production ofcyclododecatriene(CDT) for a duration of several months. The plant produced a substantial proportion of the world's production of CDT, particularly that needed to producelaurolactam,a precursor to thepolyamidePA12. This shortage in turn led to concerns for global production of finished goods, particularly in the automotive industry.[19]Biobased polyamides, not dependent on laurolactam or CDT, have been put forward as alternative materials.[18]
Operations
editEvonik divested its former holdings in the areas of energy and real estate and now focuses on the core business of specialty chemicals.[20]
Chemicals Business Area
edit
The Chemicals Business Area of Evonik emerged fromEvonik Degussa GmbH(formerlyDegussa GmbH— an acronym ofDeutscheGold-undSilber-Scheide-Anstalt(German Gold and Silver Separating Works)) based inEssen,Germany. It employs about 34,000[21]people and is one of the world's largest producers of specialty chemicals. It includes six business units: Advanced Intermediates, Consumer Specialties, Coatings & Additives, Inorganic Materials, Health & Nutrition and Performance Polymers.[22]Degussa was acquired by RAG in 2006. Its latest acquisition is the Tippecanoe Labs plant site atLafayette, IndianafromEli Lillyon 1 January 2010.[23] In November, a plant for the production of DL-methioninewas opened inSingapore.At a cost of €500 million, it is the largest investment to date in the chemical sector in the company's history.[24]In June 2014, the Supervisory Board resolved to restructure the Group, with plans for the six chemical segments to be bundled into three GmbH (limited liability) companies from 2015.[25]
Energy Business Area
edit
The former energy business portion of Evonik was operated throughEvonik Steag GmbH(formerlySTEAG), which is the fifth largest power company in Germany, based inEssen.The company operates fourteenhard coal-fired power plants, of which eleven are located in Germany, and one inTurkey,one inColombiaand one in thePhilippines,and two industrial power plants. It also operates in the field of transport, processing and distribution of hard coal, coke and byproducts from coal processing, as well as in the field of gas supply, transport and trading.[26]In December 2010, Evonik Industries signed an agreement to sell 51% of shares in its energy business to a consortium of municipal utilities in Germany'sRhine-Ruhrregion. The agreement was finalized on 2 March 2011. The remaining 49% were acquired by the consortium for €570 million in August 2014.[27]
Real Estate Business Area
editEvonik Immobilien GmbHused to manage around 60,000 company-owned residential units in Germany. In addition, it had a 50% stake in TreuHandStelle GmbH, which manages more than 70,000 residential units. Evonik Immobilien GmbH was amalgamated with TreuHandStelle GmbH and placed on a more independent basis in the medium term.[28]As per the resolution of the general meeting held on 25 November 2011, the name of the subsidiary Evonik Immobilien GmbH was changed to Vivawest GmbH. On 1 January 2012, Vivawest merged with residential management company THS under the nameVivawest.In 2013, Evonik sold the majority of its shares in Vivawest to the RAG Foundation, the Evonik pension fund, and the coal mining corporation RAG AG. Evonik now holds only 10.9%, and there are plans to sell this stake too.[29]
Sponsorship
edit
- Evonik has been the main shirt sponsor ofBorussia Dortmund(BVB) since the 2007/2008 season.[30]Beginning with the 2020/2021 season, Evonik will be the shirt sponsor for only international events.
- Evonik was one of the sponsors of theWorld Chess Championship 2008[31]
- On 17 May 2011, as part of a charity football match between Borussia Dortmund and an all-star team from Japan, Evonik donated €1 million to a children's home situated in the Tohoku/Ichinoseki-shi earthquake zone which was destroyed by the2011 Tohoku earthquake.[32]
- Evonik is the main sponsor of the Rebikoff-Niggeler Foundation, a non-profit organization which conducts deep-sea research in the Azores using a submersible.[33]
See also
edit
References
edit- ^abcdef"Evonik Financial Report 2020"(PDF).Evonik Industries AG.Archived fromthe original(PDF)on 17 May 2022.Retrieved1 February2022.
- ^Coast, Melody M. Bomgardner, C&EN West."Clariant and Huntsman to join in $20 billion deal | Chemical & Engineering News".cen.acs.org.Retrieved30 September2017.
{{cite web}}:CS1 maint: multiple names: authors list (link) - ^"Geschäftsbericht 2019 der RAG-Stiftung"(PDF).Archived fromthe original(PDF)on 27 February 2023.Retrieved27 February2023.
- ^Burger, Ludwig (27 June 2014)."Borussia Dortmund wins sponsor Evonik as investor".Reuters.Archived fromthe originalon 7 March 2016.
- ^"Kensing to acquire Evonik's surfactant and specialty esters operations".nutritioninsight /.Retrieved23 April2024.
- ^abWiesen, S. Jonathan (16 November 2005)."From Cooperation to Complicity: Degussa in the Third Reich".Holocaust and Genocide Studies.19(3): 528–531.doi:10.1093/hgs/dci047.
- ^Hayes, Peter (2012). "The Ambiguities of Evil and Justice: Degussa, Robert Pross, and the Jewish Slave Laborers at Gleiwitz".Gray Zones: Ambiguity and Compromise in the Holocaust and its Aftermath(1st ed.). Berghahn Books. pp. 7–25.ISBN978-1-84545-302-2.
- ^Bernstein, Richard (14 November 2003)."Berlin Holocaust Shrine Stays With Company Tied to Nazi Gas".New York Times.Retrieved30 May2011.
- ^"Chemical & Engineering News: Latest News-RAG to Take over Degussa".
- ^ "RAG may sell more Evonik shares to individual investor prior to IPO – Evonik CEO".Forbes.12 June 2008. Archived fromthe originalon 5 August 2011.Retrieved11 July2008.
- ^ Eva Kühnen (1 April 2008)."Evonik says owners drop IPO plans for now".Reuters.Retrieved11 July2008.
- ^ Matthias Inverardi; Philipp Halstrick (3 June 2008)."CVC to pay 2.4 bln eur for Evonik stake-sources".Reuters.Retrieved11 July2008.
- ^ Peter Dinkloh (11 June 2008)."Russia's Gazprom says gas prices to keep rising".Reuters.Retrieved11 July2008.
- ^ Matthias Inverardi (23 September 2011)."Germany's Evonik postpones IPO on weak markets".Reuters.Archivedfrom the original on 1 February 2013.Retrieved23 September2011.
- ^"Evonik CEO Finds Backdoor to IPO After 'Painful' Failures".Bloomberg.BloombergBusiness. 12 March 2013.Retrieved11 March2015.
- ^"Shareholder structure of Evonik Industries AG".Evonik.Retrieved11 March2015.
- ^commercial supplier Degussa
- ^ab"Fire at the CDT plant on the grounds of the Marl Chemicals Park".Press Release.Evonik Industries. 4 April 2012.
- ^Stephen Evans (19 April 2012)."Fire in small German town could curb world car production".BBC News Online.
- ^"Evonik Industries".CVC Capital Partners.Archived fromthe originalon 2 April 2015.Retrieved11 March2015.
- ^"Facts & figures 2010".Evonik. Archived fromthe originalon 28 May 2011.Retrieved25 May2011.
- ^"Operational divisions".Evonik.Retrieved26 May2011.
- ^"Tippecanoe, Indiana".Evonik. Archived fromthe originalon 29 December 2011.Retrieved13 May2012.
- ^"Evonik starts new methionine complex in Singapore".Feedstuffs. 4 November 2014.Retrieved11 March2015.
- ^Bureau, BS B2B (27 June 2014)."Evonik Industries plans to reorganise the group structure".Business Standard India.Retrieved11 March2015.
{{cite news}}:|last1=has generic name (help)CS1 maint: numeric names: authors list (link) - ^"About us".STEAG GmbH. Archived fromthe originalon 24 June 2011.Retrieved26 May2011.
- ^"KSBG acquires STEAG completely from Evonik".Chemeurope.Retrieved26 May2011.
- ^"Evonik to split off property, power ops in revamp".Reuters.17 December 2009.Retrieved11 March2015.
- ^"Evonik creates new entity to house huge real estate holdings".Charles Kingston.Retrieved26 May2011.
- ^"Borussia Dortmund, we're right behind you".Corporate Evonik.Evonik Industries.Retrieved18 April2014.
- ^"Evonik and Gazprom are the World Championship sponsors".Chess News.31 July 2008.Retrieved2 August2022.
- ^"Corporate Responsibility Report 2011"(PDF).
- ^"Evonik supports the exploration of the deep sea - Evonik Industries".corporate.evonik.Retrieved2 August2022.
External links
edit- Evonik Industries websiteArchived26 June 2009 at theWayback Machine