Evonik & Co. see themselves prepared for a lack of gas

BASF Verbund site in Ludwigshafen

The huge complex is the largest industrial gas consumer in Germany.

(Photo: obs)

Dusseldorf Despite the uncertain economy, confidence is growing among German chemical companies with a view to further business development this year. This is shown by the quarterly results and forecasts published on Wednesday by leading providers such as Evonik and Brenntag. They expect profits that are at the high end of their previous guidance. Lanxess AG and BASF had previously expressed optimism for the year as a whole.

The signals from the chemical industry are important for assessing the economic situation and prospects, because as a producer of raw materials, the sector supplies almost all processing industries. Chemical companies can already assess the situation in the third quarter. You can see initial reluctance among customers in individual markets. However, there is no talk of a slump in demand.

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