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Evonik establishes independent carbon black company

Published on 2010-07-13. Author : SpecialChem

FRANKFURT -- Evonik Industries is reorganizing its carbon black activities. On July 1, Evonik Carbon Black GmbH was founded as a legally independent management company under the umbrella of Evonik Industries. Chairman of the Board (CEO) is Jack Clem and Rainer Wobbe will take over the position of the Chief Financial Officer (CFO). The operational headquarters of the company, currently in Frankfurt, will move to Hanau-Wolfgang on October 1. The product portfolio and the relationship to the customer will not be affected by the spin-off. Evonik, the second largest manufacturer worldwide, produces carbon black at 17 sites in 12 countries on four continents. In the last fiscal year some 1,700 employees generated sales of about €1 billion.

Having spun off the carbon black business, Evonik is currently examining three strategic options to develop its business further. The possibilities extend from optimization as an independent market unit, through a partnership solution, to sale of the business. One of these three options will be decided upon before the end of the second half of the year.

Evonik Carbon Black GmbH is the world's second-largest producer of carbon black. The products are used mainly as reinforcing fillers in the rubber industry (for tires and industrial rubber goods) and as pigment blacks in, for example, plastics, specialty coatings, and colorants.

About Evonik:

Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company's performance is shaped by creativity, specialization, continuous self-renewal, and reliability.

Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.

Forward Looking Statements

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

Source: Evonik


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