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BASF: Styrenics Deal Before Year´s End?
BASF: Styrenics Deal Before Year´s End?
BASF (Ludwigshafen / Germany; www.basf.com) hopes to conclude the sale of “selected parts” of its styrenics business by the end of 2007, but is “under no time pressure,” CFO Kurt Bocksaid in presenting Q3 results. Industry sources say Basell (Hoofddorp / The Netherlands; www.basell.com) has good chances of winning the race. Bock blamed negative currency effects and plant outages for a 7% decline in Plastics segment EBIT in Q3 2007 against the 2006 period. In the same time frame, sales improved by 3% to EUR 3.36 bn. Styrenics sales growth tapered off to 1%. /Plastics Information Europe/
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