Evonik's chemicals business reported fourth-quarter 2010 Ebitda up 11%, to ?483 million ($673 million), on sales up 23%, to ?3.3 bil- lion. Full-year Ebitda jumped 47%, to ?2.4 billion, on sales up 29%, to ?12.9 billion. Cost cutting measures, as well as improved volumes and prices drove earnings growth, Evonik says. Earnings grew across all business units, the company says. "In most business units demand was back at or even above the level seen in the first half of 2008, before the recession," Evonik says. Many production facilities oper- ated at full capacity. "We want to grow and increase our profitability further," says chairman of the executive board Klaus Engel. "To achieve that, in future the management of Evonik will be geared to making us faster, leaner and more flexible, with an even stronger market focus.
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