German chemical association VCI on Wednesday said 2019 will be a difficult year, pointing to geopolitical problems, as it confirmed its downbeat forecast.
Production in the chemical and pharmaceutical industries, which are important contributors to Germany’s gross domestic product, grew by 0.5% in the first quarter as producer prices decreased by 0.3% and sector revenues fell 1.1%, VCI said.
“Overall, the uncertainty of market participants remains strong,” it said, citing Britain’s planned exit from the European Union, Italy’s debt and the trade conflict between the United States and China.
“Excluding the pharmaceuticals business, chemical production should stagnate this year,” VCI said, confirming its full-year forecast of a 3.5% production and a 2.5% revenue decrease as producer prices are expected to rise by 1%.
By Tassilo Hummel
Source: Reuters
INEOS, Europe’s biggest operator of electrolysis needed to produce clean, low carbon hydrogen, has doubled down on its €2 billion investment in green hydrogen with the launch of a hydrogen advocacy campaign. The campaign kicked off with the publication of a powerful editorial in the Sunday Telegraph on the hydrogen economy written by Sir Jim Ratcliffe, INEOS’s founder and chairman.
Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, today announced the completion of its acquisition of IM Chemicals. With the addition of IM Chemicals, Vertellus expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe.
A new collaboration between scientists, engineers, industry and farming experts hopes to demonstrate how clever technology can reduce the powerful greenhouse gases released by livestock to help agriculture reach carbon emissions targets.
