Investor Relations News
Evonik to close its Kaba site in Hungary
Essen (Germany) / Kaba (Hungary). Evonik will stop its amino acid production at its Hungarian Kaba site by the end of April 2018. There Evonik Agroferm Zrt., a subsidiary of Evonik, currently employs about 120 people.
The decision was prompted by intense and increasing competition in the market for the amino acid L-threonine, produced by Evonik in Kaba under the ThreAMINO® brand name. “Despite considerable and continual optimizations, it is no longer possible for Evonik to maintain economic production in Kaba over the long term. Therefore we have decided to stop production in Kaba which is in line with our strategy to secure a leading position for our amino acid business,” says Dr. Emmanuel Auer, head of Evonik’s Animal Nutrition Business Line.
Possible alternatives to the shutdown were explored in depth before taking the decision. Supply of ThreAMINO® to Evonik’s global customers remains assured. ThreAMINO® is added to animal feed to ensure an optimally balanced supply of amino acids.
Evonik is working in close conjunction with the works council of Evonik Agroferm Zrt., the local union, and Hungarian authorities to handle the forthcoming gradual redundancies in the most socially acceptable manner possible.
The further use of the site will be explored and decided on in close cooperation with the Hungarian authorities after production has stopped.
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2017, the enterprise generated sales of around €14.4 billion and an operating profit (adjusted EBITDA) of about €2.36 billion.
About Nutrition & Care
The Nutrition & Care segment is led by Evonik Nutrition & Care GmbH and contributes to fulfilling basic human needs. That includes applications for everyday consumer goods as well as animal nutrition and health care. This segment employed about 8,200 employees, and generated sales of around €4.5 billion in 2017.
In so far as forecasts or expectations are expressed in this Investor Relations News or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.