Unfortunately, the effects of the Russia-Ukraine war continue to be clearly perceptible, and the consequences are having an increasingly negative impact on our industry and our economy. Already in spring this year Vestolit GmbH had to inform about continuing cost increases on the energy markets. Also, the restrictions in the logistics chains are still present, on the contrary, the current situation regarding the supply via inland waterways has additionally worsened significantly and in some cases is taking on dramatic forms. This both regarding the logistics costs, but in particular also with regard to the supply of the energy producers.
In the energy markets in particular, there is no sign of any easing. On the contrary, industry and we are confronted with continuous price increases. Energy prices in Europe have currently reached unprecedented levels, yet we must expect further significant increases in the short term. Regulatory interventions are also contributing to this development and are placing a considerable burden on us.
In order to maintain our production, this dramatic situation is forcing us to reflect these cost increases in our selling prices. We are monitoring the development very closely and are trying to get an accurate picture.
In case of any questions, please do not hesitate to get in touch with our Commercial Team in Germany. We know that the current development is not easy for anyone, but in this dramatic situation we are counting on everyone’s understanding and support as a long-standing partner.