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Basic Results Mixed on Weak U.S. Markets

1:22 PM MDT | July 25, 2007 | Kerri Walsh

Global basic and diversified chemical makers say weak North American markets were a drag on first-quarter profits, but favorable European and Asian demand partially offset those markets. Lower ethylene selling prices pushed down producers’ profits, especially at Dow Chemical and Lyondell Chemical. BASF’s Ebit excluding oil and gas rose 18%, to €1.38 billion ($1.88 billion), on sales up 26%, to €10.56 billion, mainly due to acquisitions including Engelhard, higher volumes, and increased selling prices in the chemicals business. Total net...

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