The bankruptcy of chemical company Vynova Belgium in Tessenderlo-Ham, Limburg, is the latest warning sign of a wider crisis affecting not only Belgium’s chemical sector but energy-intensive industry across Europe, the Belgian chemical federation Essenscia said on Tuesday.
Essenscia said the collapse was not only a painful blow for the hundreds of families affected by job losses, but also a threat to prosperity and Europe’s strategic autonomy.
Barbara Veranneman, managing director of Essenscia, said the latest closure should serve as a wake-up call for a more ambitious industrial policy to restore competitiveness and give industry a future.
She said urgent action was needed to cut energy costs, strengthen protection against unfair trade practices, ease regulation and introduce effective measures to support investment.
“If we let go of the chemical industry, we will become dependent on other parts of the world for essential materials,” she said.
Veranneman said the chemical sector underpins 95% of all products used every day, ranging from PVC for windows and doors to chemicals for drinking water treatment and raw materials for medicines.
“Chemicals are the foundation of our modern society, with countless applications we cannot do without in daily life. That is what is at stake,” she said.
Essenscia added that employment in Belgium’s chemical and pharmaceutical sector has fallen by 2,735 jobs over the past two years, with the downward trend continuing this year.
