Germany's pivotal chemicals industry gripped by crisis

  • 📰 eNCA
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 51%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Thomas Kadowsky imagined that he would keep working at the German industrial coatings plant where he had served as team leader for more than 30 yea...

German chemicals manufacturer Allnex is closing its 90-year-old site in Hamburg as the sector faces a squeeze from higher energy pricesBERLIN - Thomas Kadowsky imagined that he would keep working at the German industrial coatings plant where he had served as team leader for more than 30 years until he retired.

The closure is yet another example of the crisis gripping this vital sector of the German economy, which slipped into a recession at the start of the year and, according to data released on Friday, stagnated in the second quarter."The house is on fire", said Markus Steilemann, president of the VCI chemicals industry lobbying group which represents 1,900 companies in Germany.

In February, the giant BASF announced that it was slashing 3,300 jobs, with the closure of several units at its historic site in the western city of Ludwigshafen. On Friday, the company reported a 76-percent fall in second-quarter profits year-on-year. Although they have fallen since their peak in August 2022, energy prices are still five times higher than in the United States and between two and three times higher than in China, according to the VCI.

Despite local tensions, however, unions and companies are in agreement in calling for an energy price cap to help save the sector. Hence some experts are calling for these industries, which will never be competitive on their own in Germany, to be shed and to concentrate on less energy-intensive sectors of the future.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 49. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

'No further remedy': Markus Jooste can't appeal arrest warrant ruling, says German court | BusinessA court spokesperson in Germany has said that former Steinhoff boss Markus Jooste cannot appeal its ruling confirming that the arrest warrant issued against him last month is valid. | News24_Business
출처: News24 - 🏆 4. / 80 더 많은 것을 읽으십시오 »

Ex-Steinhoff CEO Markus Jooste loses appeal against German arrest warrant | BusinessMarkus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff, lost an appeal against the arrest warrant issued by a German court after he failed to show up for trial in the country. | News24_Business
출처: News24 - 🏆 4. / 80 더 많은 것을 읽으십시오 »