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


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.


WINOA Group
W Abrasives - Surf Prep Pack

Experts in surface preparation are not working only on greens. To discover the SURF PREP PACK dedicated to experts, come to visit us during the GIFA (Hall15 - D14).


Blastox/The TDJ Group, Inc.
Blastox - One Step
Lead Abatement

Don't waste $$ on added labor steps with other methods. Don't mix, meter or apply at the job-site. Avoid strict hazardous waste rules.
Let your painters paint!


Atlantic Design, Inc.
MORE THAN JUST A SALES PITCH!

Simplicity! Dependability! Safety! We’ve built these features into every cleverly engineered inch of our newest models. It’s all there. 866.Call.ADI


Safway Services
Suspended Access Made Easy With QuikDeck™

The smart choice for suspended access, QuikDeck’s interchangeable, lightweight components make them easy to set up and reassemble when you need to move.


US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.


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.


Dow Polyurethane Systems
Choose the Right Coat

Dow’s high-performance, protective polyurethane spray elastomer system increases durability for steel and concrete applications.

 
 
 
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