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Energy crisis break for German aluminum giant

The energy crisis continues to negatively affect industrial production across Europe. Finally, the aluminum producer Speira GmbH announced that it will reduce its production in Germany by 50 percent due to the increase in energy costs.

Energy crisis break for German aluminum giant

The energy crisis continues to disrupt industrial production in Germany, Europe's motor economy.

Aluminum producer Speira GmbH said it will reduce production in Germany by 50 percent due to rising energy costs.

The restriction adds to the excessive bill the energy crisis has placed on the European metals industry, one of the largest consumers of industrial energy and gas. While the region's aluminum and zinc production capacity has fallen by nearly 50 percent over the past year, industrial groups have warned that shutdowns may be prolonged during the winter months.

Attention is at the summit where energy ministers will come together
Warnings from industrial companies in Europe that winter shutdowns could be extended are putting pressure on politicians ahead of a meeting of energy ministers in Brussels on Friday.

It is stated that emergency response plans will be prepared to reduce the impact of sharp increases in electricity and natural gas prices in the European Union on industry, businesses and households.

The need for action has been felt more strongly in the EU after Russia stopped the flow of gas in Nord Stream indefinitely last week.

It is stated that unexpected taxation from companies with high profits can be introduced to help households facing problems such as rising costs and a recession that spreads throughout the union.


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