BASF says 2009 will be a year of unprecedented challenges

Published: 26-Feb-2009

BASF says its income from operations had been on track for a new record up to Q4 when the decline in the global economy hit. Operating profit for Q4 dropped 61.9% on the previous year while sales were down 2.7% to €14.3bn.


BASF says its income from operations had been on track for a new record up to Q4 when the decline in the global economy hit. Operating profit for Q4 dropped 61.9% on the previous year while sales were down 2.7% to €14.3bn.

“2009 will be an unprecedented year of challenges,” commended BASF chairman Jürgen Hambrecht. “The situation in our sales markets in worsening and inventory levels in the value chains are still too high. As a result, the chemical industry is continuing to shrink.”

At least 1,500 of the company’s 97,000 jobs are expected to go, with closures of sites in Europe, the US, and Asia.

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