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Management cites price pressure from Chinese suppliers as the reason
The substantial chemical plant owned by the insolvent company Leuna Polyamid is in danger of becoming an manufacturing 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 vegetation create plastics and fertilizers. However, two and a half months after the restart, Leuna Polyamid also ran into financial difficulties and filed to insolvency under its own administration. Naundorf cites the enormous price pressure from Chinese suppliers as the reason to the failed search to investors.
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