Down economy affects BASF 4Q

Date:02-27-2009

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.