Evonik eyes 250 mln eur in annual cost savings
FRANKFURT, Sept 23
FRANKFURT, Sept 23 (Reuters) - Germany's Evonik said on Monday it aims to cut administrative costs by 250 million euros ($338 million) per year from 2016 as it completes the transition from an industry conglomerate to a specialty chemicals group.
Evonik said last month it would step up cost cutting measures and slash its investment budget as it became the latest specialty chemicals maker to caution investors about its business prospects. ($1 = 0.7402 euros) (Reporting by Ludwig Burger; Editing by Peter Dinkloh)
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote