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BASF's Earnings Up on Higher Demand

4:00 AM MDT | July 29, 2010 | Kerri Walsh

BASF’s second-quarter net income quadrupled to €1.2 billion, on sales up 30%, to €16.2 billion on improved economic conditions. The biggest gains came from the chemicals businesses, where market conditions were weak in the year-ago period during the global economic crisis. Profits rose in all divisions except for agricultural solutions, and revenues improved in all divisions excluding oil and gas. Economic recovery will continue during the second-half of the year, but at a moderate rate, says chairman Jurgen Hambrecht. “We expect our sales...

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