Evonik Management Committee Chairman John Caspar Gammelin clarified during a press conference at the 2016 K show on October 20 that Evonik has no plans to sell its high-performance materials division. At the press conference, Evonik announced plans to open a biaxial stretching plant for the production of acrylic acid in Weitelstadt, Germany, and clarified rumors about Evonik about its high-performance materials division.
Gamelin said, "Evonik does not have any plans to sell this unit, nor will it use this unit to form joint ventures with other companies. This business is profitable, although it does not generate as much profit as other departments." The business generates huge cash flow, which can be used for "the growth of the rest of the business."
He confirmed the purchase of the Air Chemical Materials Technology Products Division, which can realize the conversion of amine catalysts to polyurethanes, and this acquisition is likely to be realized by the end of the year.