Cognis to end short-time work in Germany

28 August 2009 19:31  [Source: ICIS news]

TORONTO (ICIS news)--Cognis is ending short-time work for its staff in Germany effective 31 August because of improved order levels, the Monheim-based international specialty chemicals producer said on Friday.

The company had put workers in Germany on short-time work from 1 April, affecting up to 2,100 people.

“From end of May, and into June and July, we have seen a notable improvement in orders,” spokeswoman Susanne Sengel told ICIS news in explaining why Cognis would end short-time work.

Cognis earlier this week reported a net loss of €20m ($29m) for the first half of 2009. But it also said that sales volumes had improved sequentially in the second quarter.

Last week, BASF, the world’s largest chemicals company, said it was considering ending short-time work at its production hub in Ludwigshafen, partly due to improved orders. Specialty chemicals producer Altana said earlier that it had largely ended short-time work.

However, Germany-based international fertilizer major K+S said it would put some 4,000 workers on short-time work until the end of the year because of weak demand.

Many German chemicals producers have resorted to the short-time work in past months.

The government-supported programmes enabled them to cut working hours while maintaining staff levels during the current crisis.

($1 = €0.70)

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By: Stefan Baumgarten
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