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German Industry

All articles tagged with #german industry

business1 year ago•2 min saved

Thyssenkrupp to Cut 11,000 Steel Jobs Amid German Industry Struggles

Thyssenkrupp plans to cut 40% of its steel workforce, affecting 5,000 jobs by 2030, due to oversupply in Europe and increased Chinese imports. The company will also close a processing site and reduce production capacity by up to 25%. This move highlights challenges in Germany's industrial sector, exacerbated by declining European car sales and rising Chinese steel exports. Thyssenkrupp's restructuring aims to enhance competitiveness and includes plans for greener steel production, amid ongoing negotiations with EP Corporate Group to increase its stake in the company.

via Financial Times|

#business #chinese-imports #german-industry

business2 years ago•3 min saved

"German Industry Adapts to Drying Rhine River, Shifts Strategy"

German industry is facing disruptions in transportation as low water levels on the Rhine river, a major commercial artery, become more frequent due to climate change. The Rhine is crucial for inland shipping of goods, but extended periods of low water levels have limited the capacity of cargo vessels. Companies like Covestro and BASF have resorted to chartering low-water barges to maintain their supply chains. The impact of low water levels extends beyond big businesses, with the German economy experiencing a decline in GDP and industrial production during previous dry spells. While logistics firms are benefiting from rising demand for vessels adapted to lower river levels, the lack of capacity, infrastructure, and personnel for alternative transportation options remains a challenge for the industry.

via Reuters|

#business #climate-change #german-industry