Degussa Identity in Transition after Acquisition by Evonik

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Researched by Industrial Info Resources (Sugar Land, Texas)--At the end of the second quarter of 2007, Evonik Industries (Essen, Germany) acquired the chemical company Degussa Corporation (Parsippany, New Jersey) and its related businesses. Evonik is a significant industrial group worldwide with businesses in areas including chemicals, energy and real estate. The chemicals sector is the former Degussa Corporation in its entirety.

With the acquisition completed, Evonik is working to capitalize on the identity of its own company name combined with the well-respected name of Degussa. The transitional names in most cases include both Evonik and Degussa in the title for the sake of name recognition. Eventually, the companies will likely be designated Evonik exclusively. As of now and the near future, the U.S. chemical division will be known as Evonik Degussa Corporation and the Canadian division as Evonik Degussa Canada Incorporated.

In North America, Degussa Corporation has four major divisions, including Degussa Stockhausen Incorporated, Degussa-Goldschmidt Corporation, Degussa Engineered Carbons and Degussa Initiators LLC. These divisions and others consist of more than 20 operational chemical plants in the United States and Canada covering more than a dozen states and provinces. Industrial Info is tracking an estimated $40 million in future capital and maintenance project activity at these sites and with several additional projects already underway or recently completed.

Evonik Industries recently acquired the remaining shares from Engineered Carbons Incorporated (Montvale, New Jersey) of the former joint venture company Degussa Engineered Carbons LP. Eventually, Degussa Engineered Carbons will go through a name change toward Evonik. As of now, however, the Degussa name still stands for this particular division.

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