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BASF Reports Record Results, Talks to Petronas on New JV

9:15 AM MST | March 2, 2012 | —Natasha Alperowicz in Ludwigshafen

Bock: Higher sales and profits this year. Engel: Seeking raw material security. BASF reported record annual sales and earnings for 2011 but the company’s fourth-quarter earnings before interest and taxes (Ebit) were below the level achieved in the year-earlier period. BASF chairman Kurt Bock and CFO Hans-Ulrich Engel provided an outline of the results and detailed the company’s strategy at a press briefing held recently in Ludwigshafen. Engel confirmed that the company will quit Styrolution (Frankfurt), an equally owned styrenics joint venture with...

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