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Down economy affects BASF 4Q
Feb. 27, 2009
The Associated Prss reports that Ludwigshafen, Germany-based chemicals company BASF SE fell to a fourth quarter net loss of US $400 million as demand for its paints, glues and fertilizers was hit by the global economic crisis. Last year during the same period the company reported a profit of more than one billion dollars.
BASFs agricultural segment, which makes crop protection products, remained the company’s strong point as its sales increased 9% to $4.3 billion and operating profit rise 37% to almost $901 million.
Source: BASF News Release
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