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BASF: Considerable Earnings in Chemicals Business, Oil & Gas Significantly Below Prior-Year Quarter

Experienced "robust" demand, particularly from the automotive, construction industries

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By: Catherine Diamon

Director, Executive Internal Communications, GAF

In the second quarter of 2016, BASF saw a slight improvement in the macroeconomic environment. The increase in oil price and pickup in demand since the end of March underline this development. “We experienced robust demand, especially from the automotive and construction industries. However, the macroeconomic situation remains difficult to predict,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE. Sales of BASF Group decreased by 24% in the second quarter to €14.5 ...

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