Bumpy German roads ominous for economy
Merkel's pursuit of a 'balanced budget' has resulted in disrepair of roads and bridges which may jeopardise the country's growth prospects
Frankfurt
For SMS Siemag AG, a pothole isn't just a pothole.
The maker of metal-processing plants, which ships products around the world, says damaged bridges make getting them from its headquarters in Hilchenbach, Germany, to harbours such as Hamburg or Antwerp the hardest part. Transport of parts that weigh between 50 tonnes and 300 tonnes takes four times longer than it did in 2010 and has become five times more expensive.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources