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Evonik advances biotech investments

9:18 AM MDT | October 9, 2012 | Sotirios Frantzanas

Evonik says that it plans to continue expanding its commitment to biotech as explores opportunities for profitable growth in a range of business areas. Biotech gives "Evonik's growth strategy a stronger focus on sustainable development. In the health and nutrition business unit alone we are hoping for sales of €1 billion ($1.29 billion) over the medium term for products made using biotech," says Patrik Wohlhauser, member of Evonik's executive board. Evonik will be investing about €350 million by 2014 to expand its Biolys business, an amino...

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