June 13, 2019 / 2:20 PM / 2 months ago

BASF says continues to expect slight improvement in global automotive demand

FRANKFURT, June 13 (Reuters) - BASF continues to expect a slight improvement in global automotive demand in 2019, a spokesman said on Thursday, even after the chemicals giant unveiled some job cuts at its German coatings operation.

BASF earlier on Thursday said it would cut 200 jobs at its coatings site in the German city of Muenster until 2021, citing ongoing weakness in automotive markets.

BASF said last month it expects to eke out some profit growth in 2019 as it banks on business to perk up with car production in the latter half of the year and on benefits from ongoing cost cuts.

It said at the time that its automotive business saw a weak start to the year but predicted slight growth over the full year.

Reporting by Patricia Weiss Writing by Ludwig Burger Editing by Thomas Seythal

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