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10-27-2007

Evonik: Expects Annual Growth in Sales of 5 %

Evonik Industries AG, via its Chemicals Business Area, formerly known as Degussa, intends to achieve an annual growth in sales of around 5 % on the plastics market up to 2010, and to some extent much more in the case of special high performance plastics. The company posted plastics sales of EUR 1.9 billion in fiscal 2006, and intends to boost this figure to around EUR 2.3 billion by 2010.

In the past three years, Evonik has invested some EUR 420 million in its plastics activities, for example, when it took over a 50%-share in the joint venture Cyro, or when it founded a joint venture to manufacture the high-performance polymer PEEK (polyether ether ketone). The investment volume is to be increased to EUR 550 million between 2007 and 2009.

One of Evonik’s focal points in the plastics market is high-yield high performance polymers and their markets, which are driven by strong growth and technology. In October this year, Evonik commenced construction of a new production facility for Rohacell polymethacrylimide rigid foam in Mobile, Alabama, USA. The facility, built to contend with international competition (the first of its kind outside Germany), is set to go on stream in mid-2008.

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