Manufacturing Industry
First half of 2002 won't be easy but should improve says BASF. (European News).(releases 2001 performance review)
Cosmetics International, June, 2002
The German chemicals group, BASF has released its performance review 2001 for the UK and Ireland which saw sales in the region decrease by 3.8% to 886mn [pounds sterling], compared with the year before. Overall, gross turnover for the company was down 8% to 615mn [pounds sterling].
The company said that the events of 11 September bad an impact and Friedwalter Munstermann, md, BASF plc head of Business Centre UK & Ireland said that, "As the economic situation deteriorated, trading margins declined as prices fell faster than raw material costs." However, there were some positive signs in some sectors, including Basic, Intermediate and Fine Chemicals, said Munstermann.
He concluded by adding that, "Looking ahead to 2002, the year wail certainly not be...
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