RAG AG, formerly Ruhrkohle AG, is the largest

German German(s) may refer to: * Germany, the country of the Germans and German things **Germania (Roman era) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizenship in Germany, see also Ge ...

coal mining Coal mining is the process of resource extraction, extracting coal from the ground or from a mine. Coal is valued for its Energy value of coal, energy content and since the 1880s has been widely used to Electricity generation, generate electr ...

corporation A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as ...

. The company headquarters are in

Essen Essen () is the central and, after Dortmund, second-largest city of the Ruhr, the largest urban area in Germany. Its population of makes it the fourth-largest city of North Rhine-Westphalia after Cologne, Düsseldorf and Dortmund, as well as ...

in the

Ruhr area The Ruhr ( ; , also ''Ruhrpott'' ), also referred to as the Ruhr Area, sometimes Ruhr District, Ruhr Region, or Ruhr Valley, is a polycentric urban area in North Rhine-Westphalia, Germany. With a population density of 1,160/km2 and a populati ...

. The company was founded on 27 November 1968, consolidating several coal mining corporations into the Ruhrkohle AG. On 12 September 2007 as a result of

restructuring Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. ...

, the business areas of

chemicals A chemical substance is a unique form of matter with constant chemical composition and characteristic properties. Chemical substances may take the form of a single element or chemical compounds. If two or more chemical substances can be combin ...

energy Energy () is the physical quantity, quantitative physical property, property that is transferred to a physical body, body or to a physical system, recognizable in the performance of Work (thermodynamics), work and in the form of heat and l ...

and real estate were transferred to the new business entity

Evonik Industries AG , products = Chemicals , revenue = {{Decrease €15.2 billion (2024){{cite web , url= https://www.evonik.com/en/investor-relations/Reporting.html#tabs-b118b10b7a-item-2d4ab0c2ad-tab , title=Evonik Financial Report 2024 , publisher=Evonik Industri ...

. Today, Evonik Industries are majority owned by the ''RAG-Stiftung'' (English: ''RAG-Foundation''), which uses corporate profits to finance the costs that arise due to the former mining activities in the

Ruhr The Ruhr ( ; , also ''Ruhrpott'' ), also referred to as the Ruhr Area, sometimes Ruhr District, Ruhr Region, or Ruhr Valley, is a polycentric urban area in North Rhine-Westphalia, Germany. With a population density of 1,160/km2 and a populati ...

region. The foundation plans on using about 220 million euro per year from 2019 to maintain abandoned coal mines, which mainly involves pumping out the ground water that destabilises tunnels. Since its board of trustees is dominated by federal and regional government officials as well as unions, RAG Foundation is also keen to secure Evonik's more than 20,000 jobs in Germany. But in 2024 Evonik wants to cut 10% jobs of its employees in Germany By June 2014, the foundation received the approval from its board of trustees to cut its Evonik stake to 60 percent over the medium term.Arno Schuetze (January 10, 2015)
RAG Foundation in no hurry to place Evonik shares - CFO
''

Reuters Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...

''.

References

External links

RAG Global Site
(in

and

English English usually refers to: * English language * English people English may also refer to: Culture, language and peoples * ''English'', an adjective for something of, from, or related to England * ''English'', an Amish ter ...

)
RAG Foundation
(in German and English)
Evonik Industries AG
(in German and English) {{Authority control Coal companies of Germany Companies based in Essen