Evonik Industries Reports Stagnant Production and Sales Decline

Evonik Industries, a German chemical company, has reported stagnant production and a slight decline in sales for the current year. The company’s stock price has been impacted by market sentiment.

Key Developments

• Recent announcements of significant investments in defense and infrastructure projects have provided some hope for improvement.
• Harald Schwager, a former deputy CEO, will lead the supervisory board of K+S, a fertilizer producer.
• The company has launched new products, including TEGO foamex 8420.
• Evonik has entered into distribution agreements with partners, including Azelis.

Business Updates

Evonik’s management is undergoing changes, with Harald Schwager set to lead the supervisory board of K+S. This move is part of the company’s efforts to adapt to changing market conditions.

Product and Partnership Developments

• The company has launched TEGO foamex 8420, a new product.
• Evonik has entered into distribution agreements with partners, including Azelis.