Evonik Industries AG

Evonik Industries AG is a German multinational specialty chemicals company headquartered in Essen. It was formed in 2007 through the reorganization of the industrial conglomerate RAG AG, which consolidated several of its chemical subsidiaries, including Degussa, a company with roots dating to the nineteenth century, into a single specialty chemicals business ahead of RAG's planned exit from coal mining. Evonik produces specialty chemicals for industries including personal care, animal nutrition, coatings and healthcare, and it remains closely linked to the RAG-Stiftung foundation, which uses dividend income from Evonik to fund the perpetual obligations left by Germany's coal mining legacy.