Tag: $BASF

BASF has approached German rival Evonik about a takeover that would help the world’s biggest chemicals company expand its geographic and product mix and consolidate the under-pressure industry.

The world’s top chemicals producer BASF on Wednesday set out plans to shake up its board, as the company struggles to retain its profit margins in the face of Germany’s energy crisis and the global economic slump.    

FRANKFURT, July 12 (Reuters) – German chemicals giant BASF (BASFn.DE) on Wednesday cut its full-year earnings guidance, the latest in a string of chemical companies caught out by weak demand from industrial clients and higher interest rates.