By Pierre Bertrand
Evonik Industries said Monday that it will reorganize its Technology & Infrastructure division, splitting it into two separate units.
The company said that it plans to separate into cross-site technology and site-specific infrastructure activities.
As part of the reorganization, Evonik’s infrastructure units in Marl and Wesseling in Germany and in Antwerp in Belgium will become independent companies by the end of 2025.
“Following the legal separation of the infrastructure activities at the three sites, Evonik will examine, without prejudging the possible outcomes, which individual model will offer the best financing options for each site,” the company said, adding these could include remaining within the group, partnerships or joint ventures, or divestments.
Evonik said that it remains committed to keeping the division in the company until mid-2027.
The reorganization of the technology and infrastructure activities is expected completed by the end of 2024, Evonik said.
In addition, the company said that it will also reorganize its administration, starting a program on Oct. 1 to implement a leaner structure. That restructuring will begin in 2024 and finish in 2026, it said.
Protection against compulsory redundancies at Evonik in Germany remains in place until the end of 2032, the company said.
Write to Pierre Bertrand at [email protected]
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