VIENNA (dpa-AFX) - Evonik (EVK.DE), the creative industrial group from Germany, said the company has increased the value of its innovation pipeline by half a billion euros, last year. The company said its current value of the pipeline is in the lower single-digit billion euro range.
In the medium term, the Group aims for products and applications developed in the past five years to account for over 16 percent of sales. Currently, these constitute around 10 percent of sales.
Evonik Chief Innovation Officer Ulrich K sthardt said, 'We have a total of six growth fields, which we expect to contribute over 1 billion euros in additional sales by the year 2025.'
Copyright RTT News/dpa-AFX