(AOF) – The biochemical company Metabolic Explorer, in difficulty with the surge in energy and raw materials, announced yesterday the forthcoming injection of 73 million euros by its main shareholder, the SPI fund of the bank public Bpifrance, and private banks.
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Nothing is going well for German chemistry
German chemicals, very dependent on Russian gas, are in difficulty. Following sluggish sales in the automotive sector and falling demand in construction, production is down 8.5% in 2022, with overall sales down 1.6% to 63.1 Billions of Euro’s. Specialty chemicals are doing better. On the other hand, the production capacity utilization rate in basic chemicals has slowed markedly to less than 80%. Germany’s third industrial sector is tempted by relocation to the United States, where energy costs are much lower. With the Inflation Reduction Act, the United States has put in place an appropriate environment for the current challenges.