The German chemical industry is oriented towards the west.
(Photo: BASF SE)
Dusseldorf, New York The German chemical and pharmaceutical industry is increasingly relocating its plans for further growth to the USA. This is shown by the latest investment announcements and assessments by the companies surveyed by the Handelsblatt. One reason: the energy-intensive industry is attracted by cheaper gas. But the situation is more complex.
Chemical companies cite the stable US economy and the state-sponsored strengthening of American industry as further reasons. “If companies are looking for a region with plentiful energy deposits at low prices, with stable framework conditions and little bureaucracy, then the USA is the place of choice for investments,” says Antonis Papadourakis, Americas boss of the Cologne-based chemicals group Lanxess.
With the reorientation to the West, German companies are also reacting to fears that China could develop into an unsafe location. “We are currently seeing a clear shift in the assessment of locations and supply chains. The USA is viewed as a positive and relatively reliable trading partner,” observes Andreas Eggert, healthcare and life sciences expert at the management consultancy Oliver Wyman.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue