EU's anti-Russia sanctions — are forcing chemical manufacturer BASF — to relocate a major part of its German operation to China

27 October 2022

From Reuters:

BASF . . . said costs at its European sites must be cut to a "permanently" smaller size because of a triple burden of sluggish growth, high energy costs and over-regulation, with the German industrial giant's boss throwing his weight behind a planned expansion in China.

"These challenging framework conditions in Europe endanger the international competitiveness of European producers and force us to adapt our cost structures as quickly as possible and also permanently," the chemical maker's CEO Martin Brudermueller said in a statement on Wednesday.

In the first nine months of 2022, natural gas costs at BASF's European sites - which include its largest complex at Ludwigshafen in southwest Germany . . . were about 2.2 billion euros ($2.2 billion) higher than a year earlier.

"The state can't make up for the deficits over years to come," said Brudermueller, adding that companies need to remain flexible and adjust to new realities.

The cutbacks at home contrast with a 10 billion euro chemical complex that BASF plans to build in Zhanjiang, southern China, to run entirely on renewable energy, as it banks on booming Asian markets and looks to reduce reliance on Europe.

Western leaders are doing their best to destroy the nations they lead

Just like US leaders moved most of our manufacturing abroad, on neoliberal purpose — and now, as a result, we cannot even provide Ukraine with a meaningful number of munitions and weapons — due to our lack of domestic manufacturing capacity — comparably idiotic EU politicians are forcing globally important European manufacturers out of Europe.

The moral? — Do y'all think that it is time to throw these Murdering Monkeys out?

For survival's sake.

PeteFree.com

EU's anti-Russia sanctions — are forcing chemical manufacturer BASF — to relocate a major part of its German operation to China