The search for investors for a large chemical plant in Leuna has failed
Management cites price pressure from Chinese suppliers as the reason
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The large chemical plant owned by the insolvent company Leuna Polyamid is in danger of becoming an industrial ruin. “Unfortunately, we have not yet received a binding offer from an investor,” Managing Director Martin Naundorf told the Mitteldeutsche Zeitung (Tuesday edition). The facilities will continue production through the end of September to fulfill customer orders. “After that, we plan to shut down the facilities on our own,” said Naundorf. That will take 15 to 20 days. Approximately 400 employees are affected.
Leuna Polyamid, based in Leuna (Saalekreis), was founded as a rescue company and took over the insolvent Domo plant on April 1. The plants produce plastics and fertilizers. However, two and a half months after the restart, Leuna Polyamid also ran into financial difficulties and filed for insolvency under its own administration. Naundorf cites the enormous price pressure from Chinese suppliers as the reason for the failed search for investors.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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