Evonik Industries AG

Essen Germany

 

Company Description

Evonik Industries believes that life is better when there is good chemistry. The company, founded in 2007, is composed of two units: Evonik Degussa (specialty chemicals), and Evonik Immobilien (real estate management). Evonik Degussa's chemicals such as polymers, plastic additives, photovoltaics, and lithium-ion batteries account for most of Evonik's business, while its real estate business includes housing units in Germany. Evonik sold a majority stake of STEAG, its power generation subsidiary, in 2011. Evonik was formed when former parent company RAG AG spun off its non-mining interests. A government-owned offshoot of that firm, the RAG Foundation, owns 75% of Evonik; CVC Capital Partners holds the rest.