German specialty chemicals maker Wacker Chemie has reported that it met its sales target and exceeded its earnings expectations in 2016. However, it fears that its earnings this year may shrink as the spiralling cost of raw materials eats into its profit. “We are... facing headwinds from raw-material prices.
German chemical company Wacker Chemie continues to see the Middle East region as a growing market, relying predominantly on the intense activity in the construction and the infrastructure sectors, a senior Wacker official said. Its other key markets of focus in the region are the coatings, paints, adhesives, energy and textile sectors.
Wacker Chemie’s one of the priorities of investing activities last year remained the completion of the new polysilicon site at Charleston, Tennessee (US). Some €100 million ($107.51 million) – or about a quarter of total capital spending in 2016 – went toward this project.