09 May 2003 12:12 [Source: ICIS news]
LONDON (CNI)--European Commission (EC) proposals for a new chemicals policy were attacked on Friday as a hindrance to innovation and a threat to European competitiveness and jobs.
The attacked was delivered by German specialty chemicals company Degussa, whose chairman Utz-Hellmuth Felcht said the requirements made in terms of paperwork, time and cost were too high.
"This will hinder innovation, weaken the ability to compete with non-European companies and threaten jobs," he declared.
Felcht was speaking at Degussa's annual general meeting (AGM) in Dusseldorf, Germany where he also outlined first quarter results and reiterated the company's forecast for an improvement in full year operating income and sales for core businesses.
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