BASF Posts Strong Results; Overtakes Dow as Global Leader

BASF last week announced record sales and earnings for 2006 and expressed optimism for another strong performance in 2007. The company overtook Dow Chemical last year to become the largest firm by chemical sales, its revenues boosted by several acquisitions. BASF’s 2006 sales, excluding oil and gas, reached €41.9 billion ($52.8 billion). Dow Chemical reported sales of $49.1 billion for 2006. BASF recorded higher 2006 sales and earnings in Europe and the Nafta region, but earnings in Asia/Pacific and Latin America declined due to closure of a...

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