Down Economy Affects BASF 4Q, Ag Still Strong

Matt Hopkins Posted by Matt Hopkins|3 March 2009

The Associated Press reports that Ludwigshafen, Germany-based chemicals company BASF SE fell to a fourth quarter net loss of US $400 million as demand for its paints, glues and fertilizers was hit by the global economic crisis. Last year during the same period the company reported a profit of more than one billion dollars.

BASF’s agricultural segment, which makes crop protection products, remained the company’s strong point as its sales increased 9% to $4.3 billion and operating profit rise 37% to almost $901 million.

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