10 August 2012 17:24 [Source: ICIS news]
LONDON (ICIS)--Chemical and pharmaceutical producers in ?xml:namespace>
The state’s chemical and pharmaceuticals first-half sales growth compares with a 0.5% year-on-year decline in overall German chemical and pharmaceuticals sales during that period.
However, industry association Chemie-Verbande Baden-Wurttemberg said that the state's 2012 full-year sales would be much lower – at about 2% to 3% - because of growing risks from the eurozone debt crisis and the recession in southern
In addition, the industry is being challenged by volatile energy and raw material costs, the group said.
“Our medium-sized chemical producers are being squeezed as the large raw material suppliers are setting their prices, but firms are finding it hard to pass those higher costs on to their industrial customers,” said the group’s general manager, Thomas Mayer.
As for the first half of 2012, Mayer credited in particular higher pharmaceuticals sales – up 7.0% year on year – for the increase in the state’s overall chemicals and pharmaceuticals sales.
Domestic chemicals and pharmaceuticals rose 7.3% to €3.9bn in the the first six months while export sales rose 3.0% to €5.4bn, Mayer said.
Baden-Wurttemberg’s paint and coatings producers recorded only a 0.6% year-on-year increase in their 2012 first-half sales, he added.
($1 = €0.81)Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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