BASF SE (BASFn.DE)
16 Aug 2018
FRANKFURT German chemicals giant BASF warned that the hot spell across Europe is leading to supply bottlenecks for some products made at its Ludwigshafen headquarters.
FRANKFURT BASF eked out a 5 percent gain in operating profit, thanks to an oil and gas unit that it is seeking to transfer into a joint venture and list separately, while high feedstock costs squeezed margins at its core specialty chemicals units.
FRANKFURT BASF said it was confident an agreement with Russian billionaire Mikhail Fridman's investment company Letter One to merge BASF's oil and gas division with rival DEA could be signed over the next few weeks.
* Margins of complex specialty products squeezed by high costs
FRANKFURT, July 27 BASF's quarterly operating profit rose 5 percent, with higher prices at its specialty materials and at its oil and gas businesses being partly offset by a stronger euro, which weighed on the value of overseas sales.
BEIJING Germany's BASF managed to wrap up a preliminary deal to build China's first wholly foreign-owned chemicals complex quite quickly, aided in part by trade tensions between Beijing and Washington, sources with knowledge of the matter said.
* BASF chemicals complex coup came together quickly - sources
* CAPACITY DOUBLES WITH NEW PRODUCTION LINE IN SINGAPORE; STARTUP PLANNED IN 2021
FRANKFURT BASF is considering building a chemical production site in the South Chinese province of Guangdong, which the German chemicals group said would be its first wholly-owned plant in China.
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