Evonik celebrates 40 years of PEBA

Whether in sports equipment, pressure lines in trucks, medical devices, or 3D printed high-tech parts, polyamide 12 elastomers from Evonik have over the last four decades repeatedly found their way into new high-end applications demanding a unique balance of material properties.

Press release
Company
July 29, 2019

Evonik Venture Capital invests in east coast US fund to access new technologies

  • Tech Council Ventures II fund provides window on start-ups in Mid-Atlantic states in USA
  • Fund investment enables access to regional disruptive technologies in Evonik growth engines
  • Evonik venture capital expands geographical footprint to east coast

Essen, Germany and Parsippany, New Jersey. Evonik is extending its corporate venture capital activities in the US with an investment into Tech Council Ventures II. Evonik is investing a single-digit million US-dollar amount. Tech Council Ventures is a US-focused early-stage investor. It finances young, innovative start-up companies and actively supports them with their extended network in the Mid-Atlantic region on the east coast of the US.

“Fund investments are an important part of Evonik’s venture capital activities,” said Bernhard Mohr, head of Evonik Venture Capital. “The partnership with Tech Council Ventures enables us to get in touch with a broad range of innovative start-ups that are located near our North American headquarters and will provide us with an excellent overview of new technologies in that region.”

The fund is based in New Brunswick, New Jersey, near Evonik’s US headquarters in Parsippany and will enable access to a local network of technology start-ups including academia and industry. The Mid-Atlantic States of New Jersey, Pennsylvania, Delaware, Connecticut, Maryland, Virginia and New York represent the second-largest venture-capital market in the country. In the US, Evonik Venture Capital is represented by Lutz Stoeber and Eric Breese, who are responsible for Evonik’s venture capital activities in North America.

“The investment underlines our commitment to the region,” said John Rolando, president of North America for Evonik. “We see ourselves as a collaborator to foster entrepreneurship and strengthen local ties.”

Tech Council Ventures II focuses on areas that have a close fit to Evonik’s growth engines, areas which the company has identified as promising fields for future growth and development. The fund invests in start-ups in the fields of materials, life sciences, healthcare, internet of things and energy.

“With our local proximity near Evonik’s North America headquarters and US-based venture team, the synergy of our focus and network in the Mid-Atlantic region and Evonik’s global footprint and perspective will create tremendous opportunities to partner on exciting start-up ventures.” said Steve Socolof, Managing Partner, Tech Council Ventures.

Evonik Venture Capital plays a strategic role in Evonik’s goal to become a best-in-class specialty chemicals company, by helping secure access to disruptive technologies and innovative business models as well as supporting digital transformation. To this end, Evonik launched its second venture capital fund with a volume of €150 million at the beginning of 2019, more than doubling the amount under management to €250 million.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

About Evonik Venture Capital

Since its inception in 2012, Evonik Venture Capital has realized 25 investments, both direct and fund investments. EVC has offices in Germany (Hanau/Essen), the U.S.A. (Parsippany) and China (Shanghai) and invests in young companies with innovative technology and high growth potential in the fields of Heath & Care, Smart Materials, Animal Nutrition and Specialty Additives. Evonik Venture Capital’s team is made up of experienced investment managers that provide portfolio companies comprehensive support. The investment scope ranges from early stage to growth stage as well as follow-up financing with investment volume per portfolio company of up to €15 million. Further information is available at http://venturing.evonik.com/

Disclaimer

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.

How do we get plastics to perform at their best? That’s the question Evonik asks its customers—and provides the answer with its portfolio of high-performance polymers and specialty additives on view at Booth B28 in Hall 6 at K2019.
How do we get plastics to perform at their best? That’s the question Evonik asks its customers—and provides the answer with its portfolio of high-performance polymers and specialty additives on view at Booth B28 in Hall 6 at K2019.
Press release
Products & Solutions
July 18, 2019

Better living with high-performance polymers and additives from Evonik

Evonik Industries, one of the world’s leading specialty chemicals companies, will be in Düsseldorf, Germany, October 16 – 23 for this year’s K 2019 plastics trade show, where it will present its portfolio of high-performance polymers and specialty additives in hall 6, booth B28.

Its presence at the trade show is part of the company’s “Better Living with Evonik” campaign, which showcases how Evonik’s products and system solutions make our everyday lives safer, more comfortable, and healthier.

Evonik’s high-performance polymers portfolio encompasses its range of VESTAMID® polyamides, which have been used in the automotive industry, in industrial production, and in consumer goods for over 50 years in some cases. This year marks the 40th anniversary of polyamide 12 elastomer (PEBA), a popular, trusted material—especially in the athletic equipment industry—owing to its excellent performance and design freedom. To celebrate, Evonik will be introducing a new member of the product line, whose transparency and gloss give designers far more freedom than they have ever had with PEBA.

Evonik’s roughly €400 million investment—its largest in Germany—will increase the company’s total capacity for polyamide 12 by over 50 percent between now and 2021. Worldwide, VESTAMID® polyamide 12 and polyamide 612 are the most widely used polyamides for automotive tubing. New developments focus on conductive products and on applications for electric and hybrid vehicles.

Other products in the portfolio are chemical-resistant, transparent polyamides TROGAMID® and VESTAKEEP® PEEK for sophisticated tribological and high-temperature applications. Evonik is also a leader when it comes to developing and manufacturing innovative polymer powders for 3D printing. VESTENAMER®, a thermoplastic processing additive, allows efficient processing of waste rubber to a robust material and minimization of the degradation of properties that is associated with the use of recyclates. In this way it makes an important contribution toward closing the recycling cycle.

The specialty additives for master batch manufacturers, compounders, and processors include crosslinkers, comonomers, and dispersing agents for pigments and fillers, as well as additives for process and performance improvement. The resulting modified surface characteristics improve mechanical properties such as scratch resistance, flow, block resistance, and anticaking effects, and also help optimize fire protection properties.

Crosslinkers in the TAICROS® family, for example, are used in printed circuit boards meeting the modern 5G cellular standard, while triacetone amine derivatives are important building blocks for light stabilizers in applications such as artificial turf in stadiums. Beginning in 2018, TEGOMER® solutions for improving flow and mechanical properties such as scratch resistance have been complemented by ACCUREL® technology, which makes it possible to incorporate liquids into solids. The expanded product portfolio allows customers to implement trends like improved fire resistance, new packaging industry developments, and odor absorbers to make the use of recycling materials sustainable.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

About Resource Efficiency

The Resource Efficiency segment is led by Evonik Resource Efficiency GmbH and produces high performance materials and specialty additives for environmentally friendly as well as energy-efficient systems to the automotive, paints & coatings, adhesives, construction, and many other industries. This segment employed about 10,000 employees, and generated sales of around €5.5 billion in 2018 from continuing operations.

Disclaimer

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.

Press release
Company
August 1, 2019

Evonik closes sale of Methacrylates business

  • Consistent strategy execution to focus on specialty chemicals
  • Methacrylates business to transfer to Advent International effective July 31
  • Net purchase price to be used for strengthening balance sheet and targeted growth projects

Essen, Germany. Evonik has closed the sale of its Methacrylates business as the next step in its consistent focus on specialty chemicals. The official closing of the transaction took place on July 31, following the signing of the purchase agreement earlier this year on March 4. The relevant anti-trust authorities had already granted their unrestricted approval.

The Methacrylates business has 15 production sites and 3,900 employees worldwide. From 2016 to 2018, the business generated an average annual EBITDA of about €350 million and sales of about €1.8 billion per year.

“The sale is a further step in aligning our portfolio towards specialty chemicals and becoming less dependent on economic cycles,” says Christian Kullmann, chairman of the Evonik Executive Board. “As the first half of 2019 has shown, our portfolio is now more robust in the face of macroeconomic trends than it was in the past.”

The enterprise value of €3 billion is the equivalent of 8.5 times the EBITDA of the divested business. Deductions result mainly from the transfer of pension obligations in the amount of around €600 million to the buyer and from transactional taxes in the amount of approx. €200 million.

Furthermore, during the closing process of the transaction, one-time tax obligations for Evonik were determined in the amount of around €260 million, resulting from the carve-out of the Methacrylates business and payable in 2019.

At the same time, this will lead to higher depreciation and associated future tax relief of up to €20 million per year in the free cash flow for the upcoming 15 years. The tax effect will therefore be largely offset over the entire period.

Evonik plans to use the proceeds from the transaction to strengthen its balance sheet and for the targeted expansion of its specialty chemicals portfolio.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

Disclaimer

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.

Press release
Company
August 1, 2019

Key Financial Data: First half/second quarter 2019

Evonik sticks to full-year outlook despite cooling economy

  • Outlook for 2019 confirmed: Sales and adjusted EBITDA to remain at least stable
  • Second-quarter sales and earnings below year-ago period
  • Compared with the first quarter all three chemical segments increase earnings

Essen, Germany. Evonik is sticking to its full-year outlook despite an increasingly gloomy economic environment. The company expects sales and adjusted EBITDA from continued operations to remain at least stable compared with last year. In 2018 Evonik generated - not including the divested Methacrylates business - sales of €13.3 billion and adjusted EBITDA of €2.15 billion.

In the second quarter of this year sales declined 3 percent to €3.31 billion compared with the prior-year quarter. While sales volumes fell because of the weaker economy, Evonik was able to keep prices largely stable. Adjusted EBITDA fell 8 percent to €566 million in the quarter. In comparison to the first quarter of 2019, all three of the company’s chemical segments were able to improve their earnings. For the second half of the year Evonik expects a continued solid development.

“We are on track and confirm our forecast,” said Christian Kullmann, chairman of Evonik’s executive board. “The cooling of world trade and an increasing weakness in major industries isn’t making it easier. Still, we are confident for the remainder of the year.”

In the first half, free cash flow reached €95 million. That is more than double the amount in the first half of 2018 (€46 million). So Evonik is on track to meet its target for a significantly higher free cash flow for the full year.

“Strategically we have taken a big step forward with focusing our portfolio on specialty chemicals,” said Kullmann. “We invest in areas with stable and attractive growth perspectives and divest cyclical businesses when the time is right. That makes Evonik less exposed to economic cycles.”

As well as the sale of the Methacrylates business to Advent International, the company has reached another milestone. On July 10, Veramaris, a joint venture between Evonik and Dutch company DSM, officially opened its production plant for omega-3 fatty acids needed for healthy salmon farming. A tangible earnings contribution from the project, which contributes to long-term sustainable animal nutrition and helps conserve biodiversity in the oceans, is expected from next year.

Segment Performance

Resource Efficiency: A weaker market environment for auto- and coatings-related businesses meant that sales at the segment declined 2 percent to €1.4 billion in the second quarter. Sales volumes at the Silica, Oil Additives and Coatings businesses were impacted by the economic weakness. The segment enjoyed higher demand for high performance polymers as well as for composite applications at the Crosslinkers business from the wind-energy market. Adjusted EBITDA dropped 9 percent to €325 million.

Nutrition & Care: Second-quarter sales decreased 5 percent to €1.31 billion at the segment. Demand for essential amino acids for animal nutrition remained high while selling prices were lower than the prior-year quarter. Adjusted EBITDA at the segment dropped 14 percent to €190 million on lower prices as well as ramp-up costs for the new methionine facility in Singapore. Areas such as Care Solutions or Health Care that are closer to the consumer have shown their stability in a cyclically weaker environment.

Performance Materials: Sales in the second quarter decreased 4 percent to €594 million. Development at Performance Intermediates was hurt by a lower oil price as well as slightly lower selling prices. In contrast, at Functional Solutions the alkoxides developed well. Adjusted EBITDA at the segment fell 4 percent to €76 million.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

Disclaimer

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.

Press release
Silica
August 2, 2019

New precipitated silica for whitening toothpastes

  • SPHERILEX® 145: For a softer whitening experience

Evonik Business Line Silica launches new specialty product, SPHERILEX® 145, for the oral care industry. White teeth and a bright, perfect smile have been the largest oral care trend over the last decade and continues today stimulated by the visual social media environment. To meet these customer demands, Evonik now launches SPHERILEX ® as a new solution for toothpaste formulators.

With the launch of SPHERILEX® 145, Evonik introduces a new technology to the oral care industry. Thanks to the spheroidal shape of the product, high cleaning levels can be achieved while providing lower abrasion to dentin, enamel, fillings and other oral hardware. This effect also holds true in combination with other formulating whitening ingredients like phosphates and chelants.

Kristina Boedtger, Global Marketing Director for Oral Care Silica states, “SPHERILEX® 145 is our new whitening silica providing consumers with whiter smiles from their everyday toothpastes. The COSMOS label makes it ideally suited for natural products and a great addition to our diverse portfolio. Our SPHERILEX® technology really enhances customer’s formulations.”

All silica oral care products are produced under the highest safety and quality standards. SPHERILEX® 145 meets USP-NF ‘Dental-Type Silica’ and EP ‘Silica, dental type’ monographs, and is listed as a “derived mineral ingredient” in the Annex D of ISO 16128-1 with the INCI name “Hydrated Silica”. All Oral Care SPHERILEX® grades conform to COSMOS as a non-organic raw material and are certified Pareve, Kosher, Kosher for Passover, and Halal.

Evonik is a leading global manufacturer of silica. In addition to the fumed silica AEROSIL® and the precipitated silica ULTRASIL®, SIPERNAT®, ZEODENT® and SPHERILEX®, Evonik also produces silica based matting agents under the brand name ACEMATT® and other fumed metal oxides under the brand AEROXIDE®. Overall, Evonik has a global production capacity for all silica based products of about 1 million metric tons/year.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

About Resource Efficiency

The Resource Efficiency segment is led by Evonik Resource Efficiency GmbH and produces high performance materials and specialty additives for environmentally friendly as well as energy-efficient systems to the automotive, paints & coatings, adhesives, construction, and many other industries. This segment employed about 10,000 employees, and generated sales of around €5.5 billion in 2018 from continuing operations.

Disclaimer

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.

Press release
Company
August 2, 2019

Evonik acquisition of PeroxyChem delayed by FTC lawsuit

• Evonik to defend FTC lawsuit seeking to block acquisition of Peroxychem

• Evonik continues to believe that the transaction will benefit customers through the combination of Evonik’s and Peroxychem’s complementary businesses

• Evonik remains optimistic regarding its ability to prevail at Trial

Essen, Germany – Evonik will vigorously defend itself against the action of the Federal Trade Commission, which today announced it will file a lawsuit seeking to block Evonik’s proposed acquisition of PeroxyChem, a worldwide manufacturer of specialty peroxygen chemistries.

“It is disappointing that the FTC has taken this step to block the acquisition in the highly competitive hydrogen peroxide industry,” said Christian Kullmann, chairman of the executive board of Evonik. “PeroxyChem offers products in attractive and high-growth end markets that are complementary to Evonik’s product portfolio. The transaction represents an opportunity for Evonik to expand further into specialty hydrogen peroxide and peracetic acid product, optimize its distribution network, achieve substantial efficiencies, and grow production and sales. We remain optimistic that we will prevail at trial and complete the acquisition.”

At the end of 2018, Evonik signed an agreement with One Equity Partners to acquire PeroxyChem for $625 million. Evonik was expecting to close the deal by the middle of 2019. However, the FTC lawsuit means that closing will not occur before the end of 2019.

“We continue to believe that the complementary fit of the two businesses will unlock new and attractive growth opportunities for our customers and employees,” said Bruce Lerner, President and CEO of PeroxyChem.

Both companies will vigorously defend the transaction against the FTC’s lawsuit and intend to show the court that the FTC’s claims fail to recognize current market dynamics, in particular the substantial growth of specialty hydrogen peroxide applications that are PeroxyChem’s focus, and the significant synergies and customer benefits that will arise as a result of transaction.

During this time, the companies will continue to operate as business as usual.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

About PeroxyChem

PeroxyChem is a global leader in specialty peroxygen and adjacent chemistries, including hydrogen peroxide, persulfates, and peracectic acid. The company employs approximately 600 people throughout the world, with facilities in North America, Europe and Asia. With an unyielding commitment to safety at its core and backed by an exceptional team, the company prides itself on exemplary customer service, product quality, reliability and technical service. PeroxyChem manufactures high quality products and innovative applications developed as a result of dedication to R&D and superior technical expertise. We supply customized chemistries for electronics, energy, environmental, food safety, pulp, paper, polymer, and other industrial and consumer markets. To learn more, please visit http://www.peroxychem.com.

Disclaimer

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.

Press release
Innovation
August 28, 2019

Evonik intensifies commitment to microbiome research in the search for new cosmetic raw materials

Three-year partnership with the University of California San Diego Center for Microbiome Innovation (CMI) ensures access to first-rate academic research

  • Three-year partnership with the University of California San Diego Center for Microbiome Innovation (CMI)
  • Collaboration ensures access to first-rate academic research
  • Microbiotic cosmetic raw materials are designated to provide a better protection of the skin

Essen, Germany/San Diego, USA. Human skin is home to a large number and wide variety of microorganisms such as bacteria, fungi, and viruses, collectively known as the skin microbiome. Its composition is as individual as a fingerprint and depends on a variety of factors. This new partnership between Evonik and the University of California San Diego Center for Microbiome Innovation aims to provide new insights about the complex composition of these microbial communities on the skin. The target of the three-year agreement and future research projects is the improvement of existing cosmetic raw materials and the potential discovery and development of new ones for promoting a healthier skin microbiome.

The cooperation with the Center for Microbiome Innovation will give Evonik’s scientist’s new impetus to its Care Biotics technology platform, in which the company promotes the development of commercial microbiotic products. “The partnership with the renowned CMI will enable us to dive deeper into the fascinating field of the skin microbiome. This will enable us to realize the vast potential of this technology platform to create and commercialize better product solutions,” says Dr. Tammo Boinowitz, Senior Vice President and General Manager of Evonik’s business line Care Solutions.

“Although research on the skin microbiome is still in its infancy, it’s of enormous interest for consumers as well as from the scientific viewpoint,” explains Dr. Peter Lersch, Vice President of Evonik’s innovation growth field Cosmetic Solutions. “The microbiome supports the epidermal skin barrier and plays also a role in the aging process of the skin. The development of microbiome-friendly cosmetic products is therefore a highly promising application area.” Jan Wolter, head of the Sustainable Business unit at Creavis, the strategic R&D unit of Evonik, adds, “To be able to find an effective cosmetic ingredient, a profound knowledge of the role of the individual microorganisms is essential.”

Together with the CMI team, Evonik intends to explore model systems for the skin microbiome. Such investigations should greatly accelerate the systematic evaluation of new as well as existing raw materials.

The Center for Microbiome Innovation exists to inspire, nurture, and sustain vibrant collaborations between UC San Diego Microbiome experts and industry. The Center encompasses a large range of expertise in microbiome sampling, a broad range of technologies (metagenomics, metabolomics, metatranscriptomics) and data analysis using high-performance algorithms, machine learning, and modeling. The ultimate goal is to increase knowledge of the microbiome’s impact on human health and the environment with an eye to providing innovative solutions and treatment to major diseases as well as prolonging wellness.

“We are delighted to have a partner like Evonik. The combination of CMI’s first-rate academic research and prominent opinion leaders as well as the opportunity for scientific exchange with Evonik’s team of skin product experts will lead to fascinating discoveries together” said Professor Rob Knight, Faculty Director of the CMI. “Our collaboration is already moving at lighting speed, with our first joint project expected to be initiated before the end of the year” he added.

Company information

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.

Disclaimer

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.