BASF announced Wednesday that it completed the first half of 2006 with record results. Sales for the second quarter rose 16 percent to $15.7 billion. Second quarter profit rose 18 percent, helped by a 50 percent sales and earnings increase in its oil and gas unit.
Key events for BASF were the purchase of Degussa’s construction chemicals business, the takeover of Engelhard Corp and the acquisition of Johnson Polymer and CropDesign.
According to Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF Aktiengesellschaft, anticipated global growth in the chemical industry will be more than 3 percent. Hambrecht’s goal is for BASF to grow faster than the market.
“Our acquisitions will contribute to sales in the second half, bringing total sales to considerably more than $63.8 billion,” said Hambrecht.