Markus Steilemann

Plastics group stays in the red / Economic conditions remain challenging

VCI half-year review: production, sales decline again / “Deindustrialisation is a fact”

EU to review Adnoc purchase under antitrust law / Will deal be overturned last minute?

Adnoc acquisition inches close to approval

Q1 core profit plummets / Outlook for 2025 lowered amid geopolitical and trade tensions / LNG deal with Ineos

Revenue drops despite rise in sales volumes / Core profit slips / ‘Certain level of optimism' for 2025

Successful takeover bid: Adnoc receives 91.3% of all shares tendered

Turnaround remains elusive / Some improvement in 2024 but profitability still lags

Management, supervisory board recommend sale of shares to Adnoc / Arab company pledges to preserve Covestro

Adnoc submits takeover bid; German giant valued at EUR 11.7 bn / “Financially strong and long-term oriented partner” – CEO Steilemann

German Chancellor Olaf Scholz: “We won't accept an undifferentiated blanket ban” / Speech at the VCI summit in Berlin

Revenues flat despite “sharp rise” in Q2 sales volumes / Upper end of guidance lowered / Adnoc takeover talks: confirmatory due diligence begins

German chemical industry association extends Steilemann's term of office / Will BASF chief follow next year?

Slight increase in polymer production – VCI half-year results / “Silver lining, but still no stable upward trend”

Plastics producer aims to save EUR 400 mn across global operations / Job cuts evidently planned in Germany

Production and sales up in Q1 / “Only a positive momentary snapshot” – VCI report

Q1 sales shrink but volumes expand / Full-year 2024 sales seen at EUR 14 bn-EUR 15 bn

“The Green Deal needs a business model” / Chemical segment fears for its competitiveness against global competition

Follow-up: Environmental associations go to court over Ineos Project One / “Destructive and completely unnecessary”

The plastics industry continues to work in a state of emergency / Slumps in demand, cheap imports and ever-new regulations make life difficult for producers and processors / Producers on the other side of the Atlantic also face more difficulties

Veil of gloom remains / Sales, output fall in 2023 / More declines expected in coming year

Low-carbon group cuts ties with World Economic Forum / CEOs line up to accelerate journey to net zero targets

Depressed mood prevails / Closures and discontinuation of business areas / “No signs of a trend reversal” – VCI

Producers still gloomy as downturn continues / Resin production falls sharply / VCI repeats calls for help from Berlin

Plastics producer now in open-ended negotiations with Adnoc / German trade union insists on job security