Evonik Mulls Plan For Performance Unit

Evonik Industries wants to improve the competitive position of its performance materials business and says it is examining potential “cooperation” agreements for the unit. However, “there are no concrete plans to sell performance materials,” Evonik says. The statement softens remarks the firm’s finance director, Ute Wolf, made to Dow Jones Newswires recently. He said Evonik is considering a sale or partnership for the business, which makes acrylic plastics, polymer additives, and other chemicals. The business had sales in the first half of 2015 of about $2 billion, or more than 25% of Evonik’s overall sales.