Nixing Nuclear Threatens Bayer's Future in Germany

By:  Rebecca Terrell
08/10/2011
       
Nixing Nuclear Threatens Bayer's Future in Germany

Rising energy prices in Germany are forcing the pharmaceutical and chemical conglomerate Bayer to threaten a move to China. The culprit is Germany's nuclear energy exit bill, passed last month in reaction to Japan's Fukushima nuclear power plant disaster. The bill orders a nuclear phase-out by 2022. Meanwhile, China plans to build 36 new nuclear power plants during the next decade. Germany's Deutsche Welle reports Bayer CEO Marijn Dekkers predicted, "Energy prices will continue to rise, and they are already the highest in the EU." He said in the face of rising prices, "a global business such as Bayer would have to consider relocating its production to countries with lower energy costs." The move would leave 35,000 workers in Germany unemployed.

Countries Bayer is considering include China, Brazil, and India, where the company has already begun significant expansion. According to the World Nuclear Association (WNA), Brazil plans to bring four new large reactors online by 2025, significantly expanding the current 3 percent of its electricity generated by two existing nuclear reactors.

Rising energy prices in Germany are forcing the pharmaceutical and chemical conglomerate Bayer to threaten a move to China. The culprit is Germany's nuclear energy exit bill, passed last month in reaction to Japan's Fukushima nuclear power plant disaster. The bill orders a nuclear phase-out by 2022. Meanwhile, China plans to build 36 new nuclear power plants during the next decade. Germany's Deutsche Welle reports Bayer CEO Marijn Dekkers predicted, "Energy prices will continue to rise, and they are already the highest in the EU." He said in the face of rising prices, "a global business such as Bayer would have to consider relocating its production to countries with lower energy costs." The move would leave 35,000 workers in Germany unemployed.

Countries Bayer is considering include China, Brazil, and India, where the company has already begun significant expansion. According to the World Nuclear Association (WNA), Brazil plans to bring four new large reactors online by 2025, significantly expanding the current 3 percent of its electricity generated by two existing nuclear reactors.

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