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The de-industrialisation of Germany 🇩🇪- Part 9: CEO Matthias Zachert of Lanxess (a leading German specialty chemicals 🧪co. operating in 32 countries) says “de-industrialisation begins“ as the co. plans to close two factories in Krefeld-Uerdingen. He cites high energy costs (due to de-coupling from Russia 🇷🇺) and politics as reasons for this. Industrial production in Germany fell in June on both a yearly (1.7%) and monthly basis (1.5%). Germany’s manufacturing PMI plummeted to 38.8, twelve consecutive months of contraction. Electrical company “ABL“ of Lauf, operating for over 100 years files for bankruptcy. Fashion house Rübsamen, in existence for more than 120 years is insolvent. Munich-based BMP Greengas, the leading provider of biogas in Germany has filed for bankruptcy, affecting the country’s ’green energy’ transition. President & CEO of the Voith Group (global technology co.) Toralf Haag, warns that ’danger of de-industrialisation is very great’. The German Red Cross has filed for bankruptcy for five hospitals . A quarter of all hospitals in Saarland and Rhineland-Palatinate are on the brink of becoming insolvent. Kassel district of the German state of Hesse sees a 34% increase in bankruptcies, than in the same period (1st 6 months of the year) of 2022. In a Federal Association of Medium-Sized Businesses survey, 48% of directors have considered closing down or moving abroad. Previous parts on the de-industrialisation of Germany 🇩🇪: Part 8 - June ’23 Part 7 - May ’23 Part 6 - Mar ’23 Part 5 - Feb. ’23 Part 4 - Jan. ’23 Part 2 and Part 3 - Nov. ’22 Part 1 - Oct. ’22 Video source- Phoenix Источник: The Paradigm Shift Channel ⏳
