ROUNDUP 2: Varta cuts sales target due to weak demand - share price falls

ELLWANGEN - The struggling battery group Varta is expecting lower sales this year than previously hoped due to weak demand. The company announced on Thursday evening in Ellwangen that revenue is likely to reach 820 to 870 million euros. Previously, the Executive Board had at least 900 million euros on the cards. In the first nine months of 2023, Varta generated a turnover of around 554 million euros; more up-to-date business figures have not been available since then due to a hacker attack. The share price plummeted on Friday.

ROUNDUP: Thyssenkrupp employees show 'faces of resistance'

ESSEN/DUISBURG - In the struggle for the future of the steel manufacturer Thyssenkrupp Steel, steel workers organized a symbolic art action at the Villa Hügel in Essen on Friday. They appealed to the Krupp Foundation based there to do more for the employees as the largest single shareholder of the parent company Thyssenkrupp AG. The motto of the art project was "Art or steel - the money must flow into secure jobs and not into the foundation!", as announced by IG Metall.

BASF: Shutting down plants is a sign of a changed chemical industry

LUDWIGSHAFEN - The BASF Group sees the shutdown of several plants at its main site in Ludwigshafen as a sign of far-reaching changes in the domestic chemical industry. "The chemical industry in Germany has lost around 23 percent of its production volume within two years," a company spokeswoman told the German Press Agency. "This is only partly for economic reasons, but also for structural reasons." The industrial landscape as a whole will also continue to change. "To speak of an impending deindustrialization of Germany would be an exaggeration."

Authority auctions wind farm rights for three billion euros

BONN - The Federal Network Agency has auctioned off the rights for the construction of two wind farms in the North Sea for around three billion euros. The auction concerns two areas approximately 120 kilometers northwest of Helgoland, one with a capacity of 1500 megawatts and the other with 1000 megawatts, as the federal authority announced in Bonn on Friday. Offshore Wind One GmbH was awarded the contract for one area for 1.96 billion euros and a project company of the energy group EnBW for 1.07 billion euros for the other. The companies can now apply for planning permission to erect and operate wind turbines and feed the electricity into the German grid. The wind farms are scheduled to go into operation in 2031.

^

Further news

-ROUNDUP/Cities Council: More houses need natural hazard insurance

-ROUNDUP: Change at the top of Intel Germany

-Association: Staff shortage jeopardizes public transport expansion

-Study: Renovation rate far too low for climate target

-ROUNDUP: What are the benefits of more flexible regulations for pharmacies?

-Collective agreement for print shop employees

-Germany may invest around three billion in hydrogen network

-Start of the collective bargaining round for public banks

-The Netherlands: Construction freeze for gas drilling in the North Sea lifted

-Ministry of the Interior leaves open question about possible Kaspersky ban

-Barcelona wants to abolish all vacation homes

-Fire in Berlin company - technical defect or sabotage?

-Federal states want fewer public radio programs

-ROUNDUP: Deutsche Bahn wants to run new ICE route Augsburg-Ulm via Zusmarshausen°

Customer tip:

ROUNDUP: You can read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha