NewsFlashBASF cuts hard, warns of profits hit

19 November 2008 12:53  [Source: ICIS news]

LONDON (ICIS news)--BASF issued a reduced full-year profits outlook on Wednesday, saying it had been hit by a “massive” decline in demand and had been forced to close production units.

The chemicals giant said it was also reducing production at about 100 plants worldwide in an attempt to avoid the creation of overcapacities. 

By: Nigel Davis
+44 20 8652 3214

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