Frankfurt, Germany - The parent of Degussa AG:Â RAG Beteiligungs-AG, has changed its name to Evonik Industries. Degussa will now be known by the comparatively clumsy name of "the Chemicals Business Area of Evonik Industries".
Evonik said, "Previous corporate brands such as Degussa, Steag, and RAG Immobilien will no longer exist". In the short term, the company still operates a website at degussa.com.
The name change is in preparation for a IPO scheduled for the first half of 2008.