Evonik signals divestment of C4 operations as part of portfolio restructuring

Essen, Germany – Evonik Industries AG is considering the divestment of its C4 business over the next two years as part of a major ongoing portfolio restructuring.

In addition to that, the German group will ‘execute’ on strategic options for its two biggest German infrastructure sites, Marl and Wesseling, explained CEO Christian Kullmann in a 22 May capital markets day.

The move is part of Evonik’s strategy to boost earnings by €1 billion by 2027, through production optimisation and cost-cutting. (ERJ report)

According to Kullmann, the C4 business, which covers the production of ‘performance intermediates’ generated sales of €1.9 billion last year, while the operations in Marl and Wesseling had a turnover of over €1 billion.

Among other products, Evonik’s C4 segment manufactures butadiene, isobutene and plasticisers which all have extensive application in the rubber industry.