Rising energy prices put companies under heavy pressure - No scope for investment in climate neutrality
News General news
Companies in the German paper industry have been hit hard by the current dramatic increases in energy prices and fear for their ability to invest in the transformation to climate neutrality.
According to a flash survey by the association DIE PAPIERINDUSTRIE, about 80 percent of its members said they would be strongly or very strongly affected by the price increases for electricity and gas, especially in the short and medium term. More than half expect not to be able to pass on the price increases to the market. This means that companies no longer have any economic planning security.
Alexander von Reibnitz, CEO of DIE PAPIERINDUSTRIE, is concerned that a good 60 percent of the companies fear that they will not be able to make sufficient investments in the transformation of their production processes due to the increased energy costs. 30 percent even expect temporary production stops.
As a way out, the paper manufacturers are calling for a government cap on electricity and gas prices. The companies also expect liquidity support. Otherwise, they say, international competitiveness is at risk.
The German pulp and paper industry is No. 1 in Europe and No. 4 worldwide. It employs almost 47,000 people at about 150 production sites.
