Evonik supports sustainable development in Asia at the Boao Forum for Asia Annual Conference 2008

• Evonik with relevant experience in Sustainable Development
• Sales in Greater China rose to 754 million euros in 2007
• China is a main driver for Chemicals Business growth

As a longstanding member of the Boao Forum for Asia (BFA), Evonik Industries AG, Essen, Germany, supports the BFA Annual Conference 2008 themed: “Green Asia: Moving Towards Win-Win Through Changes” as diamond sponsor this year. The event and theme make it the ideal time for Evonik, a company focusing on innovation and sustainable growth, to contribute its relevant experience and expertise in one of the world’s most dynamic regions.

As Dr. Klaus Engel, member of the Executive Board of Evonik Industries AG, and Chairman of the Board of Management of Evonik Degussa GmbH, pointed out in the opening address during the plenary session: “Achieving the win-win goal demands innovation. Innovation calls for creative thinking or as I have learned from my Chinese hosts ‘emancipation of minds’. As the innovative group from Germany, Evonik is a leader in green energy, chemicals and other sectors. With strategic planning in Asia, particularly in China, we are committed to growth in this region. We are convinced that we will together attain win-win results in the development of a Greener Asia.”

In fiscal year 2007, 4,200 employees of Evonik in the Greater China Region generated sales of 754 million euros, which is a 28 percent increase in the region’s sales growth. Evonik is aiming to achieve sales in the area of 1 billion euros in the Greater China Region by 2009.

“As the committed partner to China, we believe in the great potential of this market”, says Dr. Engel. “We attach great importance to our businesses in China, and this region will be a main driver for our business growth. Therefore, sponsoring the Boao Asia Forum can further increase the number of our customers in this region. At the same time, participating in the Boao Asia Forum is a very good communication opportunity, and can further enhance and facilitate the communication between the Evonik Group and related organizations that have been supporting us over the past 10 years”, added Dr. Engel.

Evonik has a long history in China starting with strategic partnerships which soon evolved into the production of specialty chemicals by the early 1990’s. In 2004, a R&D center was opened in Shanghai, which was expanded by mid-2007 to double capacity with the total investment of more than 20 million euros. Currently, Evonik is constructing an integrated production facility for methyl methacrylate (MMA) and methacrylic specialties chemicals at its multi user site at the Shanghai Chemical Industry Park. The investment volume for the entire plant including all preliminary stages is approximately 250 million euros, which makes it the largest MMA product site in Asia and the second largest single investment of Evonik´s Chemicals Business Area.