INEOS Closes German Plants, Threatening 175 Jobs and Supply Chain
INEOS has announced the closure of two production units in Rheinberg, Germany, a move that threatens 175 jobs directly and has wider implications for the German supply chain. The company's CEO, Stephen Dossett, has described Europe's industrial situation as 'suicide', citing high energy costs and lack of tariff protection.
INEOS' decision comes amidst a broader trend of economic challenges facing the chemical industry since 2022, with companies shutting down European plants. The closures in Rheinberg are part of a larger picture where four million tonnes of cracker capacity are reportedly at risk of closing, potentially impacting various industries.
Dossett has called for urgent state support to finance the local transition and preserve the remaining PVC operations in Rheinberg, aiming to protect around 300 skilled jobs. He blames the lack of tariff protection in the EU for displacing European production overseas, echoing warnings from Aluminium Deutschland about America's 25% tariff on aluminium imports.
Meanwhile, industry players have urged for a deposit system and legislative reform to make battery disposal safer, following recent fires at Hündgen Entsorgungs' facility. The European Commission is exploring cost reductions for energy-intensive industries through initiatives like the Clean Industrial Deal and Affordable Energy Action Plan.
The closures in Rheinberg highlight the ongoing struggles of Europe's chemical industry, with high energy costs and lack of tariff protection threatening jobs and supply chains. INEOS' call for state support underscores the need for urgent action to preserve these vital industries and protect the skilled workers they employ.
Read also:
- Operation Cronos Disrupts LockBit: Fake Victims and New Leak Site Manipulation
- THW Marks 75 Years of Saving Lives at Home and Abroad
- Kazakhstan's National Bank Boosts Currency Sales to $1.4 Trillion in Q4
- Duty on cotton imported into India remains unchanged, as U.S. tariffs escalate to their most severe levels yet
