Evonik Assigns New Roles to Businesses and German Production Sites
Evonik has outlined a strategy through 2030 that will assign clearer roles to individual businesses and major German production sites while directing investment toward selected growth markets.
Under the plan, business units will be managed according to defined roles as either growth drivers or cash generators.
The company is also forming a new Designed Polymer Solutions business line that will combine growth activities serving aerospace, automotive and gas-separation markets, including biogas and hydrogen applications.
Evonik said it sees particular growth opportunities in Asia and the Americas and is evaluating additional investment in those regions. At the same time, the company's six major German production sites will each receive a defined profile intended to guide future development.
Growth investments are already underway in healthcare and biotechnology operations in Canada and Slovakia, representing a combined investment in the triple-digit-million-euro range.
The strategy is being supported by the next phase of the company's Evonik Tailor Made restructuring program. Evonik reiterated plans to reduce approximately 3,200 positions worldwide from 2027 through 2029, including about 2,150 in Germany. PCI had previously reported the planned employment reduction, so the Sept. 22 announcement provides additional detail on the portfolio, site and regional strategy surrounding that restructuring.
Evonik said detailed measures for the second phase of Tailor Made are expected to be completed by the end of 2026.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
