BASF ’s coatings sales rose three percent to E2.3 billion in 2001. Approximately 45% of sales came from Europe, 30% from North America, 20% came from South America and five percent came from the Asia-Pacific region, according to Klaus Peter Löbbe, president of BASF’s coatings division and CEO of BASF Coatings AG.
“Our worldwide position has helped us to absorb regional slowdowns,” Mr. Löbbe said.
BASF will maintain its current investment levels for the coatings business—approximately E350 million over the next five years. Projects will focus mainly on productivity. “Acquisitions will remain part of our growth