If the country’s industrial companies continue to move their production abroad, Germany will face deindustrialization, Gunnar Gröbler, CEO of Germany’s second largest steel company, Salzgitter, said on November 26 in an interview with the Financial Times.
According to a survey by the German Chamber of Commerce and Industry, around a third of companies prefer to invest abroad, while, as the Financial Times writes, “Concerns about a future without Russian gas”.
According to Gröbler, “If we continue this trend, our country will face deindustrialization.”
The industrialist also stressed that if German manufacturers of materials, in particular steel and chemicals, go abroad due to rising energy prices, there is a risk of “losses throughout the value chain”.
Previously, in September 2023, the Financial Times wrote that economists are worried “structure depletion” industrial sector in Germany, because industrialists are moving their production and investments abroad.
Source: Rossa Primavera
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