BioNTech Closes Three German Factories, Affecting 1800 Jobs
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Insights by Echo AI
German pharmaceutical giant BioNTech, renowned for its COVID-19 vaccine, has announced the closure of three factories in Germany. The sites in Idar-Oberstein, Marburg, and Tübingen will shut down due to low production capacity utilization and declining demand for COVID-19 vaccines. Around 1800 jobs will be affected. Despite efforts to sell the factories, no buyers were found. BioNTech attributes the decision to the current difficult market and investment climate.
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