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Article: Privatization succeeds in eastern Germany; costs exceed DM15 billion. (chemical industry)(Germany: Flying High Again)
- Article from:
- Chemical Week
- Article date:
- May 24, 1995
- Author:
CopyrightCOPYRIGHT 1995 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Five years after reunification of Germany, the privatization of eastern German chemical companies has almost been completed. Only eight companies are still waiting for new owners, and, according to Klaus Schucht, minister of economics and technology of Saxony-Anhalt and former head of chemicals privatization at the Treuhand, these are small businesses that belonged to Bitterfeld Chemie. Even here potential buyers exist.
About 250 individual businesses in Rostock, Bitterfeld, Magdeburg, and Dresden have benefited from Western investment. Modernization programs implemented in the past five years cost DM9.8 billion, and a further DM5.3 billion will be injected, most of ...