European Industry Buckles Under Soaring Energy Prices
- Chemical, glass, metal, paper makers struggle to stay open
- German industry seen as uncompetitive given gas costs
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Europe’s industrial giants have fretted for months that gas shortages this winter will cripple production. But even with fuel available, companies are discovering they can’t afford it.
“It’s not about shutdowns. It’s pricing, it’s cost,” said Christian Levin, chief executive officer of Traton SE, the truckmaking unit of Volkswagen AG.