Wacker Chemie feels weakness in demand

Wacker Chemie AG's sales and operating result fell in the past quarter. The weakness of the automotive and construction industries is having an impact, "the majority of our customers are still reluctant to place orders," said CEO Christian Hartel. The anti-dumping proceedings in the USA against solar product imports from some Asian countries are having a negative impact on the Polysilicon business. "In contrast, business with high-purity polysilicon for semiconductor applications has developed positively."

Sales in the third quarter fell by six percent to EUR 1.43 billion, earnings before interest and taxes (EBIT) slumped by 24 percent to EUR 37 million, while net income remained at the previous year's level of EUR 34 million. Wacker confirmed its forecast for the year: business is expected to decline slightly, with profits "significantly below the previous year". The Munich-based company employs 10,600 people in Germany and 6,000 abroad.