CHEMICAL companies group BASF has recorded an eight per cent rise in profits.
Sales increased from £860m in 1999 to £930m last year. The strong upturn followed a year of structural changes which included the Cramlington pharmaceutical and fine chemical manufacturing site becoming part of BASF plc in January.
BASF plc was further boosted by the acquisition of the Chemdal business, including the manufacturing site at Birkhenhead and the agricultural chemicals business, AHP. Last October BASF's textile dye interests were merged into Dystar.
This month saw the interests of BASF Pharma in the UK sold to Abbott Laboratories, as part of a world wide sale.
Strongest growth was registered in the Plastics and Fibre sector with all businesses contributing, including the Seal Sands, Teesside, fibre inter- mediates manufacturing site.
Colours and Finishing Products and fine chemicals achieved strong growth with high levels of sales for BASF Printing Systems and agricultural products. Dispersions and Coatings and Chemicals all performed well.
Textile dyes, pigments and paper were hit by a shrinkage of the UK market and the proportion of sales from the Health and Nutrition sector fell due to reduced sales of BASF Pharma from the UK.
Double digit growth was recorded for the first two months of this year.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article