German chemicals company BASF has posted positive financial results for the first quarter of 2007 and is predicting further growth in 2007.

Compared with the same period in 2006, sales rose 17% to €14.6 billion ($19.9 million). This was primarily attributed to acquisitions completed in 2006, as well as higher volumes and sales prices in the chemical businesses. Disregarding currency effects, sales increased 21%. Net income rose 9% to more than €1 billion.

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