BASF Q2 sales fall as oil downturn hits prices
Published: Thursday, 28 July 2016
The decline in oil and gas prices continued to bite as global chemicals producer BASF noted a 24% decline in sales for the second quarter. However, the company has seen positive activity in its coatings segment, particularly an increase in demand from the automotive market in China.
Global chemicals company BASF reported a 24% decline in
sales to €14.5bn ($15.94bn*) in the second quarter of 2016
owing to the divestiture of its gas trading and storage
business, the company said in its quarterly financial statement
EBIT** also declined by €336m to €1.7bn compared