PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


BASF Announces Q2 Figures

Wednesday, August 5, 2009

Comment | More

BASF (Ludwigshafen, Germany) has announced declining sales and earnings for the second quarter of 2009 due to the ongoing global economic crisis. Sales for the entire first half of 2009 amounted to €24.7 billion, which is 23% less than the first half of 2008. Second quarter sales fell by 23% to €12.5 billion.

Sales in the chemicals segment dropped by 41% due to lower volumes and prices. The company says that this is 32% lower than Q2 2008, but all divisions improved significantly compared to Q1 2009. Plastics fell by 30% due to weak demand from all industries, and the functional solutions segment declined by 30% due to weak demand in the automotive industry. Because of a sharp decline in oil prices, sales in the oil and gas segment fell by 23%.

The performance products segment increased its sales by 17% as a result of the acquisition of Ciba in April. Second quarter sales in agricultural solutions were also slightly higher than Q2 2008.

In Europe, sales fell by 26%; by 33% in North America (24% in euro terms); by 10% in South America, Africa, and the Middle East (8% in euro terms); and by 23% in Asia Pacific (15% in euro terms). However, overall demand in the Asia Pacific region rose significantly in Q2 thanks to renewed growth in China.

BASF plans to initiate extensive restructuring measures to reach the potential of a combined business with Ciba, resulting in the reduction of 3,700 positions worldwide by 2013. The company expects the restructuring to bring synergies of at least €400 million per year. Expected cash costs are approximately €550 million, with the major portion being severance costs.

For more information, visit www.basf.com.

   

Tagged categories: BASF; Finance

Comment Join the Conversation:

Sign in to our community to add your comments.

Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Truss bridge treated with Termarust's (HR CSA) in 1995. This highway & rail truss bridge is still stable and there still is no active corrosion.


World of Concrete
World of Concrete 2015

Exhibits: Feb. 3-6 2015 Seminars: Feb. 2-6 2015 Las Vegas Convention Center Las Vegas, NV USA


Atlas Material Testing Technology

Helping You Put Your Products To The Test

• Outdoor Accelerated
Weathering
• Laboratory Testing
Services
• Accelerated Weathering
Instruments

www.atlas-mts.com atlas.info@ametek.com


Mohawk Garnet
North American Hard Rock Garnet

A complete range of quality garnet from two new processing plants. Serving both the abrasive blasting and water jet markets.
Call 1.866.642.7638
Email for follow up – mheilimo@mohawkgarnet.com


U.S. Zinc
Historic Reliability. Innovative Performance.

For 65 years, the success of U.S. Zinc has come from the quality of our people and our products. The protection properties of our zinc dust prolong the life of marine coatings, helping the world work™


Absolute Equipment/Grand Rental Station
Portable Power from Absolute Equipment

•Compressors
•Lighting Systems
•Generators
•Light Compaction
Sales • Rental • Service
Call 1-866-931-6655
Over a century of
providing excellence.


LPI Incorporated
LPI, Inc.

Manufactures air-powered man lifts for use in prep, paint and blast booths. Standard and custom designs.
Phone 800-657-6956 or www.lpi-inc.com

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com