BASF predicts growth in 2010
BASF believes 2010 will be a year of continued recovery and expects global industrial production to grow by just under 5%, albeit from a very low level.
In 2009, sales declined by 19% to €50.7 billion. All segments posted lower sales with the exception of Performance Products and Agricultural Solutions. Income from operations fell 29% to €4.9 billion.
Nevertheless, confidence remains. “The slow recovery is continuing, says chairman, Jürgen Hambrecht. “The fourth quarter of 2009 was encouraging and gives us grounds for confidence. The worst is behind us, even though dark clouds remain. 2010 will be a transitional year with uneven development from region to region.”
Although he says that ”there are no signs of a self-sustaining, long-term recovery,” he expects BASF sales to grow in 2010 and that the company will outpace global chemical production.
