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“Why Should We Invest A Penny In New Facilities In Germany?”

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Reuters

Because of high energy prices, the Swiss chemicals group Clariant no longer wants to invest in German factories.

“Why should we invest a penny in new facilities in Germany? I currently see no reason for it,” Clariant CEO Hariolf Kottmann told “Business Week”, according to a report from Saturday. “We had two or three projects planned in Germany. Now we prefer to invest in the United States.” There, energy costs are lower.

“At our plant in Frankfurt-Höchst alone we expect to pay 4.7 million Euros for the renewable energy levy (EEG) next year,” said Kottmann. “The cost of the EEG levy has thus almost doubled compared to 2011, without us having expanded capacity.” Thus, energy in Germany is twice as expensive as in competing markets. ”In Germany, we pay 13 cents per kilowatt hour; in China and the U.S. only about half,” said the manager.

Translation Philipp Mueller

Reuters, 12 November 2013