In 1945, when the Allies confiscated the vast German chemical cartel, the output of the industry's once peerless plants was reduced to little more than chlorine. Since then, in a remarkable resurgence, the Germans have rebuilt their industry at home and their markets abroad to the point where they are now pre-eminent in Western Europe.
In 1967, a recession year for the German economy and for many of the world's chemical makers, German chemical sales increased by 4.3% to $9.4 billion. This year, led by the top threeBayer, Hoechst and BASF, which together account for more than half of the...
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