Markus Steilemann

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

Covestro CEO says Germany's problem is “mainly on the psychological level”

President of German chemical industry writes 'fiery letter' to Chancellor / 'Economic imbalance must become a priority'

Output shrinks further in H1 / Annual decline could touch 11% / VCI seeks “temporary” relief from high electricity prices

Sales by German suppliers slide in Q1 / “Rapid downturn” over / Output ex-pharma to drop 8% this year

EUR 200 mn chlorine plant onstream in Spain / European MDI network strengthened / Energy saving by up to 25%

EUR 300 mn net income loss surprises markets / Impairments cut earnings / High energy, material costs hit results

Gas shortage takes its toll / Producers caught between rising prices, sinking profits / Firms look longingly to US

Plans for “green” logistics pilot scheme in China / Move targets reductions in Scope 3 emissions