Germany chems see downside from political situation – survey
April 09, 2019 / icis
LONDON (ICIS)--A vast majority (94%) of chemical firms in Germany’s Rhineland-Palatinate state see the political situation in Europe as a negative for their business this year, according to a survey by regional chemical trade group Chemieverbande Rheinland-Pfalz. The group has 190 member companies, including BASF with its Ludwigshafen petrochemicals production hub on the Rhine river. The chemical industry is the state’s largest industrial sector in terms of sales. “The political developments within and outside the EU have further dimmed sentiment among member companies,” said the group’s director general, Bernd Vogler, in commenting on the survey. With around 70% of the state's chemical products going into exports, Brexit and the US-China trade tensions would hit chemical firms in Rhineland-Palatinate, Vogler added. For the first two months of 2019, orders in the state’s chemical industry were down 3.6% year on year.