German chemicals firm Evonik inaugurates new office in India
Evonik is a world leader in speciality chemicals and is active in more than 100 countries worldwide.
German chemicals group Evonik Industries has inaugurated its new office and R&D premises in Thane, India. The Evonik India Research Hub (EIRH), as it will be called, will be dedicated to advancing solutions that contribute to sustainability.
"Evonik India's new office spans an area of 100,000 square feet. It features state-of-the-art labs for its existing business lines, which cater to industries such as pharmaceutical, oral care, personal care, food, feed, agriculture, tyre, rubber, plastics, oil & gas, batteries, metal & ceramics, electronics, toners, paper, adhesives & sealants, home care, paint & coatings, printing inks, construction, emulsion, textiles, metalworking fluid and compounding," the company said in a release.
Evonik currently employs approximately 850 employees in India in its three entities. With the opening of EIRH, it is planning to create more jobs for its new labs and related operations.
Evonik is a world leader in speciality chemicals and is active in more than 100 countries worldwide.
The company recently reported preliminary first-quarter core profit above market expectations, citing higher sales volumes in its Specialty Additives and Nutrition & Care divisions.
The company posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 522 million euros ($554.05 million) in the quarter, beating by 16% the forecast of analysts in a Vara Research poll of 450.4 million euros.
The speciality chemicals maker also published Q1 sales of 3.8 billion euros, slightly below analysts' expectations of 3.9 billion, as lower raw material costs caused sales prices to decline.
With Reuters inputs
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10:14 PM IST