Tuesday, November 25, 2008

Chemical majors mull shutdowns, cut in run rates as Germany enters recession in Q3

Accounting for 25% of the region's chemical output, Europe's largest chemical producer- Germany has entered into a recession in the third quarter of this year. Also, 10% of their sales are from the gllobal automotive industry alone that is currently staggering under the global economic crisis, the industry players will be compelled to reconsider production.

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