A Chinese buyer is taking over long-established chemicals company Perlon after the group fell into insolvency, the law firm overseeing the restructuring said on Monday, DPA International reported. The Perlon Group, which comprises seven companies in Germany, Poland and China, is being acquired by Wuxi Xingda Nylon Company, according to law firm SGP Schneider Geiwitz. The purchase price was not disclosed. Around 450 of the total of approximately 510 jobs at the group's three German sites are to be retained, and the sale has already been completed, according to the law firm.
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German manufacturing orders dropped in April, with weak demand set to persist amid the high uncertainty prompted by the war in Iran, the Wall Street Journal reported. Factory orders fell 3.8% on month, the first decline since January, offsetting part of the 4.5% increase in March, data agency Destatis said Monday. Some of the rise in orders in March was likely due to stockpiling as firms sought to get ahead of expected soaring prices due to the conflict. The drop in April was led by falling output in the automotive industry and in electrical equipment, Destatis said.
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Germany's closely watched ifo Business Climate Index increased to 84.9 points in May from 84.5 in April, according to data released on Friday, EuroNews.com reported. The ifo Business Climate Index is a highly regarded early indicator of economic developments in Germany, published on a monthly basis by the Munich-based ifo Institute for Economic Research. Economists had expected sentiment to weaken slightly as higher energy prices and geopolitical uncertainty continue to weigh on Europe's industrial sector.
Perfecta continues to grow after several months of insolvency proceedings . Solvesta Beteiligungs takes over the assets of the German guillotine and cutting systems factory. The takeover preserves the know-how of the historic manufacturer and 60 jobs, PrintingIndustry.news reported. Founded in 1896, Perfecta, part of the Baumann Group, produces cutters and cutting lines for the commercial, packaging, digital printing and label sectors. The manufacturer also supplies associated automation and handling systems, and markets its equipment in over 70 countries.
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German industrial production retreated in March, as the start of the conflict in the Middle East sent energy prices climbing, a setback for any recovery for manufacturing in Europe’s largest economy this year, the Wall Street Journal reported. Germany’s industrial sector had been expected to rebound in 2026, after a downturn that stretches back into the last decade. Pandemic-era supply issues were exacerbated by the pivot away from cheap Russian gas, increased competition from China for German goods, and an expensive green-energy transition.
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