Strong sales continue at BASF - leatherbiz: Leading news site for the Leatherbiz

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Strong sales continue at BASF

30/10/2008
Chemicals specialist BASF has ended its third quarter with solid results despite the more difficult economic environment. All operating divisions increased their prices, and volumes rose in almost all segments. Overall, sales rose by 13% to €15.8 billion ($20.6 billion) while, adjusted for currency effects, sales grew 18%.

Dr Jürgen Hambrecht, chairman of the board of executive directors said: "The impact of the global financial crisis on the real economy is speeding up and hitting harder. The economic skid marks can no longer be ignored. The decline in demand in important markets, stockpiling by our customers and the fall in oil prices are all signs of a recessionary trend that is likely to sharpen in 2009."

The company is responding to declining demand by adjusting capacity utilisation rates and bringing forward maintenance-related shutdowns. It has also launched a new efficiency programme, ‘Next’ which aims to increase operational excellence and effectiveness.


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