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.

BASF
New resins from BASF will have metals loving water:

Excellent corrosion resistance, low VOC, high gloss, thin films basf.us/industrialcoatings
polyorders@basf.com
800-231-7868


Armakleen Company, The
ARMEX when nondestructive cleaning is critical

ARMEX the original baking soda blast abrasive is a brand of Church & Dwight Co., Inc. makers of ARM & HAMMER products since 1896.


Atlantic Design, Inc.
POWER ON WITH ADI!

The most air flow possible… In the smallest package imaginable… For a price you won’t believe! 866.Call.ADI


Mitsubishi Gas Chemical America
Performance Amine 1,3-BAC

A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.


Abrasives Inc.
Check our Prices for Blast Abrasives

Faced with higher abrasive costs? We invite you to call & check our rates on Black Magic® coal slag and other quality blast materials. Abrasives Inc. 800-584-7524


Sherwin-Williams
Sherwin-Williams Protective & Marine Coatings

With 4,000 distribution points and 3,700+ years of experience, Sherwin-Williams delivers the products, support and expertise you need, right where you need it.


Clemco Industries Corp.
Powerful Protection in a Small Package

Mounts inside blast helmet, alerts operator to dangerous breathing-air condition by audible, visual, and vibratory alarms. Easily calibrated, battery operated.


Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

Wasser Coatings offer a complete range of Moisture Cure Urethane (NEPCOAT approved) systems in addition to Polyurea membranes and linings(NSF).
www.wassercoatings.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