Plastics profits rebound in 2009 / PU raw materials battered by low prices / Capacity cuts still needed

摘要

After steady improvement throughout the year, operating profit (EBIT) in the Plastics business segment of BASF (Ludwigshafen / Germany; www.basf.com) increased 2.8% to EUR 554m in 2009 compared with 2008, CEO Jiirgen Hambrecht said at the annual results press conference in Ludwigshafen. This was despite a 22% decline in sales to EUR 7.1 bn. The earnings rebound was led by Performance Polymers (engineering plastics), with Polyurethanes pressured by lower prices for feedstocks MDI and TDI.