BASF Sharpens Focus on Automotive Sector

BASF is seeking to increase its exposure to the automotive industry and rapidly expand its sales to that sector. Speaking at a media roundtable in London today, BASF chairman and CEO Kurt Bock said that the company is "by far the largest automotive supplier in the chemical industry, and ... we are trying to create value in that space." The automotive sector is also BASF's biggest customer industry, and it is a profitable business for the company, Bock says. BASF achieved sales of €9.5 billion ($12 billion) to the automotive industry in 2011, and...

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