Dec 13 (Reuters) - Germany's Evonik plans to

restructure its business lines into two segments, it said on

Friday.

From April 1, the group will focus on its two core operating

businesses: Custom Solutions and Advanced Technologies.

Evonik's Custom Solutions segment includes additives for

paints and coatings, as well as products for the cosmetics and

pharmaceutical industries. Its Advanced Technologies segment

focuses mostly on high performance polymers and hydrogen

peroxide production.

By the end of 2026, Evonik plans to reduce the number of

management levels from an average of 10 to a maximum of six

across the group, in line with its "Tailor Made" reorganisation

programme.

The group, which makes chemicals used in products from

animal feed to Pfizer ( PFE ) and BioNTech's COVID vaccine, announced up

to 2,000 job cuts by 2026 in March with the goal of reducing

costs by 400 million euros ($437.3 million) annually.

Germany's chemicals industry suffered heavily throughout

2023 due to high production costs and weak demand amid rising

inflation. Initial signs of recovery in the first quarter of

this year have begun to fade away.