MAINTAL (dpa-AFX) - The new company boss of connection technology specialist Norma Group does not yet see any danger of deindustrialization in Germany. "I don't think you have to go that far," CEO Guido Grandi told financial news agency dpa-AFX on Tuesday. The manager only recently took the helm of the company. The discussion is certainly polemically charged, Grandi said. But the fact is that the company is feeling the high energy costs in Europe and especially in Germany, especially compared to its global regions, he said.

In manufacturing, energy costs are a high factor, he said. "We are glad that in the meantime solution approaches are being discussed on how to proceed," the manager said. He added that the board was keen to see a decision made quickly so that all parties could prepare.

Industry President Siegfried Russwurm recently spoke out in favor of broad-based relief on energy prices. The electricity tax must go down, ideally to the minimum permitted by European law, he told dpa. Grid fees should also be adjusted. Because of the economic downturn and comparatively high energy prices, Economics Minister Robert Habeck is currently considering a state-subsidized industrial electricity price for energy-intensive companies.

"We are currently in a phase in which economic areas are closing off strongly," Grandi said. This is not just about energy costs, he said, but tariffs and transportation costs. That's why Norma has been trying for years to produce locally and meet customer needs locally, he said. This also has advantages for the CO2 footprint.

The group does not participate directly in subsidies in the USA, said Grandi. For the company, he said, the decisive factor is where electric vehicles and the batteries needed for them are built, for example. "We follow our customers and definitely see changes there," he added. With a billion-dollar demand program, the Inflation Reduction Act (IRA), the administration of President Joe Biden wants to make the United States the leading location for green technologies. Those who invest in wind and solar energy, hydrogen or e-mobility will receive generous support from the government./mne/knd/men