On 4 September, the Duisburg-based chemical plant Venator filed for insolvency. The reason given was the insolvency of the British parent company Venator UK, which left the German subsidiary without sufficient liquidity. The roughly 350 employees are due to be informed about the next steps in a staff meeting. According to the WDR, reported on the broadcaster’s website, provisional insolvency administrator Sarah Wolf stated that her aim was to stabilise operations and develop a viable solution for the future. The Krefeld-Uerdingen site had also previously filed for insolvency.
Causes and outlook
The Lower Rhine Chamber of Industry and Commerce pointed out that high energy and raw material costs have further worsened the…