Evonik Composites Press Release
Evonik is expanding its global isophorone and isophorone diamine capacities
New production platform in Shanghai to be completed in early 2014
Clear commitment to customers in Asia
Construction work to be finished by the end of 2013
Evonik Industries is significantly expanding its global isophorone (IP) and isophorone diamine (IPD) capacities by funding an investment of more than €100 million in Shanghai, China. The new production plants will be completed in the first quarter of 2014 and will increase the total capacities of IP and IPD significantly.
"We're investing in China, because we are committed to the growth region Asia. As a world leader in isophorone-based products, we will continue to further consolidate and expand our position in this chemistry," says Dr. Ulrich Küsthardt, President of Evonik’s Coating & Additives Business Unit.
With the Group’s expansion strategy it aims to support the growth ambitions of key customers in Asia and around the world. Proximity to consumers in this growing market will translate into improved local service, shorter lead times, and faster responses to changes in demand. "Our aim in building the plants in Shanghai—at the company’s existing multi-user site—is to supply our Asian customers with the same high-quality products they are used to from our plants in Europe and the USA, now from a plant in the region," says Gerd Brand, Senior Vice President and Head of Crosslinkers Business Line.
Evonik has proven expertise in the manufacturing of products based on isophorone, backed up by fifty years of experience. The Group is a global market leader in isophorone chemistry with production facilities in Herne, Marl (Germany), Mobile, Alabama (USA) and Antwerp (Belgium). Its products are known worldwide under the brand names of VESTAMIN®, VESTANAT®, VESTAGON® and VESTASOL®.
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2012 more than 33,000 employees generated sales of around €13.4 billion and an operating profit (adjusted EBITDA) of about €2.4 billion (excluding Real Estate in both cases).
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.