Recovering automotive market in 2010 drives up sales at BASF Coatings

摘要

The improved market environment for the global automotive industry and rising consumption in South America were key drivers of the significant growth in sales at BASF's coatings business in 2010. BASF says sales volumes at its coatings division increased year-over-year in all business areas. The positive trend seen in previous quarters, continued for automotive OEM coatings, automotive refinish coatings and architectural coatings, the German company said. However, earnings declined because it was not able-to fully pass on sharply higher raw material costs.