High Energy Prices Force The World’s Largest Chemicals Company To Downsize

The world’s biggest chemicals company, Germany-based BASF, will seek permanent cost-saving measures in Europe due to the high energy prices endangering its competitiveness, chief executive Martin Brudermüller said on Wednesday. In comments accompanying BASF’s third-quarter results release, Brudermüller said, “Uncertainties due to the enormous number of regulations planned by the E.U. are weighing on the chemical industry.” “These challenging framework conditions in Europe endanger the international…

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