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On May 11, Evonik announced that in 2023, Evonik will withdraw from the three functional material businesses of superabsorbent resin, functional solutions and functional material intermediates, which are also all Evonik's current functio.
Evonik Group Chairman Cullman told investors: "For strategic considerations, Evonik will exit the functional materials business and establish a development strategy leading to a better future in the best w.
"We will significantly increase the sales share of next-generation solution products, from the current 37% to more than 50% by 2030," said Evonik Executive Director Thomas Wess.
Evonik's repositioned R&D and Innovation division also integrates sustainability into the management of innovation activiti.
According to Evonik's financial report, sales of the functional materials business unit will increase by 47% in 2021 to 91 billion euros; adjusted EBITDA will increase from 88 million euros in 2020 to 317 million eur.
