Evonik Industries AG, the German chemical maker that listed shares in Frankfurt in April, reported third-quarter earnings that beat analyst estimates as a cost-cutting program started to deliver savings.
Foiled in three attempts at listing Evonik Industries AG on Germany’s stock market, Chief Executive Officer Klaus Engel has found a new way to achieve an initial public offering of the $18 billion chemical maker.
Evonik Industries AG Chief Executive Officer Klaus Engel expects the German chemical industry to grow in 2011 even with an imminent economic slowdown, Deutsche Presseagentur reported, citing a statement.
Evonik Industries AG is seeking a buyer for a unit making color blends used in adhesives and paint as Chief Executive Officer Klaus Engel focuses the company on specialty chemicals ahead of an initial public offering.
Evonik Industries AG, whose shares have dropped 17 percent since its April initial public offering, hired Boston Consulting Group Inc. to boost growth at its coatings and additives business, according to people with knowledge of the matter.
Evonik Industries AG, the German specialty chemicals maker that postponed an initial public offering, said it’s sticking to a plan to sell shares even as earnings are poised to decline in 2012 as economies slow.
Evonik Industries AG, the German chemical maker that listed shares in Frankfurt two weeks ago, said first-quarter profit fell 10 percent as the company cut prices for some of its products and raw-material costs rose.
Evonik Industries AG, a German chemicals maker that listed shares in April, is among the companies considering a bid for nicotine-patch maker LTS Lohmann Therapie-Systeme AG, valued at more than 1 billion euros ($1.3 billion), according to people with knowledge of the matter.