German Companies to Build Raw Materials Reserve, Spiegel Says

German Chancellor Angela Merkel is helping 10 German companies build a reserve of raw materials, Der Spiegel reported, without citing anyone.

BASF SE (BAS), Daimler AG (DAI), Evonik Industries AG and ThyssenKrupp AG (TKA) are part of a group of companies that support building the reserve, the magazine said. Each will contribute a six-digit euro amount.

Merkel has traveled to countries rich in raw materials, including Mongolia, Angola and Nigeria, to scout out potential sources, Der Spiegel said.

To contact the reporter on this story: Allison Connolly in Frankfurt at aconnolly4@bloomberg.net.

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net.

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