February 27, 2007

BASF profits surge thanks to acquisitions

BASF fourth-quarter profits have risen 31 per cent, with full-year profit up 6 percent to US$4.2 billion. Fourth-quarter sales increased 23.5 percent to $19.02 billion helped by recent acquisitions.

In a statement, chief executive Jurgen Hambrecht said the company expects higher sales in 2007 and will further expand its position as the world's leading chemical company. Hambrecht also said the investments from their acquired businesses will be used to develop research and broaden their activities.