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BASF Confirms Outlook for 2008; Revises Downward Global Chemical Growth Forecast

4:26 AM MDT | July 8, 2008 | Natasha Alperowicz

BASF today confirmed its outlook for 2008 despite signs of weakening growth in the chemical industry. "Assuming there are no changes to BASF's portfolio, we aim to increase sales and to improve Ebit before special items slightly in 2008," said BASF's chairman Juergen Hambrecht at an analysts' meeting in London today. The company at the same time has revised its expectations for growth in global chemical production this year from 2.8% to 2.4%. BASF is assuming an average Brent oil price of $120/bbl and an average exchange rate of $1.55 to...

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