Evonik Industries

DE000EVNK013

Evonik Industries AG is a stock-listed German speciality chemicals company headquartered in Essen, North Rhine-Westphalia, Germany. It is the second largest chemicals company in Germany, and one of the largest speciality chemicals companies in the world. It is predominantly owned by the RAG Foundation and was founded on 12 September 2007 as a result of restructuring of the mining and technology group RAG. Evonik Industries united the business areas of chemicals, energy and real estate of RAG, while mining operations continue to be carried out by RAG. Since then, the energy and real estate business areas have been divested, with no share being held in the former and a minority share still being held in the latter. Its specialty chemicals business generates around 80% of sales in areas in which it holds leading market positions. Evonik Industries employs about 37,000 people and carries out activities in more than 100 countries. The operating activities are organized into six business units which are a part of the chemicals business area. Evonik is the main sponsor of German football club Borussia Dortmund.

Evonik Industries has been a target of short sellers for a while. The current short interest of 6.19% is significantly above the average of the last 12 months (1.69%). Recently, short selling has increased slightly.

History