BASF invests in Quantiam

• Publisher: Elsevier Science
• Year: 2010
• Weight: 62 KB
• Volume: 2010
• Category: Article
• ISSN: 1351-4180
• DOI: 10.1016/s1351-4180(10)70096-9

✦ Synopsis

volumes 16%, prices 23%, portfolio 0%, currencies 2%). Although the group increased sales of refinery catalysts, sales volumes of chemical and automotive catalysts were significantly lower than in 2008. A higher volume of business in emerging markets, particularly in Asia Pacific, could not offset the sharp decline in N America and Europe. As a result of significantly lower precious metals prices and reduced trading volumes, sales in BASF's precious and base metal services unit dropped 50% to €1.229 bn. Despite a reduction in fixed costs, income from operations was considerably lower than in 2008 due to the extraordinarily weak market environment, especially in 1H 2009. Higher earnings in BASF's refinery catalysts business could not compensate for lower earnings in other businesses.