BDI—The Federation of German Industry—announced in late January the formation of a commodity alliance of 12 German companies with the goal of securing raw materials in the face of growing competition for key commodities. Aurubis, BASF, Bayer, BMW, Chemetall, Daimler, Evonik Industries, Georgsmarienhütte Holding, Bosch, Stahl-Holding-Saar, ThyssenKrupp, and Wacker Chemie are the founding members of the alliance, which is open to participation by additional companies.

“We are working together to build up a powerful corporation that will provide long-term improvements to Germany’s raw material supplies,” BDI Vice President Ulrich Grillo said. “The alliance has the goal of taking shareholdings in commodity projects to achieve a long-term improvement in the supply of raw materials to industry.” In specific cases, the alliance may itself invest in projects to develop commodity reserves, he said.