Cefic, the European Chemical Industry Council, has welcomed the commitment to ensuring a stable growth path for the European chemical industry, following the formal adoption by the European Council to include a coordinated and strategic industry policy in its 2018 work programme to strengthen Europe.
Member States have called on the Commission to provide a holistic EU industrial policy strategy for the future, in time for the European Council meeting in Spring 2018.
Cefic believes that a holistic industry strategy can support a strong future Europe by including support for energy-intensive industry to ease the transition to a low-carbon Europe, greater support for applied research and development, and strict enforcement of REACH (Registration, Evaluation, Authorisation and restriction of Chemicals) at the EU border regarding imported articles for imported goods.
Marco Mensink, Cefic Director General, said: “Today European companies got a strong signal of support from Member States. The EU chemical industry is ready to work with the Commission on developing and implementing this industry strategy and to help Europe to regain a best-in-class investment climate. In this way Europe can regain its position as a global force, making a success of the transition to a low-carbon future and for the future of Europe itself.”
Earlier this year, 128 industry associations campaigned to make industry the focus of a dedicated Commission plan.
The single market’s industrial base is increasingly confronted by an ageing infrastructure, demographically declining markets, and fierce competition from other world regions, particularly the US, China, and the Middle East.
With unanimous support from the EU-28 and the Maltese presidency, the Commission now has the momentum needed to take a next important step.
By Tom Walker
Source: EPPM
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.
