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    [title] => BASF’s Colors & Effects Launches Stir-in Pigment for Automotive Coatings
    [short_title] => 
    [summary] => eXpand! Red (EH 3427) is first result of strategic partnership with Landa Labs.

    [slug] => basfs-colors-effects-launches-stir-in-pigment-for-automotive-coatings
    [body] => BASF announced a pioneering stir-in pigment for automotive coatings, that provides enhanced color depth, flop, and sparkle.  eXpand! Red (EH 3427), marketed under the Colors & Effects brand, is the first pigment to result from the strategic partnership between BASF and Landa Labs that was established last year. BASF will showcase the pigment at the American Coatings Show (ACS), held in Indianapolis, April 10 – 12.
 
“We are excited to introduce the first pigment in our eXpand! line,” said Paul Verhoeven, eXpand! business leader at BASF. “By bringing this technology to our customers, we continue to demonstrate our commitment to offering a revolutionary generation of Colors & Effects pigments that meet the requirements of the automotive coatings industry.”
 
The blue-shade red pigment features both high transparency and high tinting strength for unique, more intensive shades with lower scattering. Compatible with modern automotive coating systems, eXpand! Red is the first of its kind suitable for outdoor applications. The small particle sized stir-in pigment is easily dispersible and cuts the time involved in the production process as opposed to conventional milling methods; this lowers costs significantly.
 
BASF will be exhibiting eXpand! Red in room 135 at the ACS. Other featured pigments include Lumina Royal Exterior Dragon Gold EH 0907 (S2823D), a brilliant greenish-golden, semitransparent effect pigment. It extends the color space potential for high chroma shades in automotive OEM / refinish, aerospace, building & construction, powder coatings and consumer electronics applications.
  [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2018-04-11 09:02:00 [updated_at] => 2018-04-10 15:06:53 [last_updated_author] => 165216 [uploaded_by] => 165216 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["276604","261873","274850","271007","269009","261875","261959","263740","261983","272387","269799","261963","261123","276476","276911","267657","264987","261098","268894"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 [contentType] => ContentType Object ( [className] => ContentType [content] => Array ( ) [taxonomy] => Array ( ) [listURL] => [logoUrl] => https: [id] => 2754 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => content_types [tag] => Live From Shows [short_tag] => live_from_shows [class_name] => [display_view] => [list_view] => [slug] => live-from-shows [box_view] => [ignore_flag] => 0 [image_id] => 0 [layout_id] => 0 [formattedTag] => Live From Shows ) [viewURL] => /contents/view_live-from-shows/2018-04-11/basfs-colors-effects-launches-stir-in-pigment-for-automotive-coatings/ [relatedArticles] => Array ( [0] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261098 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 155678 [primary_image_old] => 0 [slider_image_id] => 155678 [banner_image] => 0 [title] => BASF: Sales, Earnings Grow 'Considerably' in 3Q 2017 [short_title] => [summary] => [slug] => basf-sales-earnings-grow-considerably-in-3q-2017 [body] => BASF Group recorded significant sales and earnings growth in the third quarter of 2017.

“We achieved solid volume growth, even compared with the strong prior-year quarter,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.

BASF Group sales rose by 9 percent compared with the prior-year quarter to €15.3 billion. This was primarily attributable to good volumes development as well as significantly higher sales prices in the Chemicals segment. Sales were also lifted by the Chemetall business, acquired in December 2016. All segments recorded slightly negative currency effects.

The strong contribution from the Chemicals segment lifted income from operations (EBIT) before special items by €244 million to €1.8 billion. BASF recorded a slight decrease in EBIT before special items in the Oil & Gas segment and a considerable decline in the remaining segments and in Other, mainly as a result of higher raw materials prices.

Third-quarter EBIT included net special items of €198 million, after minus €52 million in the prior-year quarter. This was mainly due to special income in the Performance Products segment from the transfer of BASF’s leather chemicals business to the Stahl group. As a result, EBIT rose from €1.5 billion to €2 billion.

Compared with the prior-year quarter, income from operations before depreciation, amortization and special items (EBITDA before special items) increased by €303 million to €2.8 billion and EBITDA by €570 million to €3 billion.

Net income rose by €448 million to €1.3 billion. Earnings per share were €1.45 in the third quarter of 2017, compared with €0.97 in the prior-year quarter. Adjusted for special items and amortization of intangible assets, earnings per share amounted to €1.40 (prior-year quarter: €1.10).

In the first three quarters of 2017, cash provided by operating activities rose by €1.8 billion year-on-year to €7.6 billion. This is mainly due to the rise in net income. Free cash flow rose from €2.9 billion to €5 billion in the first nine months of 2017.

Outlook for full-year 2017
BASF has slightly raised its expectations for the global economic environment in 2017 (forecast from the Half-Year Financial Report 2017 in parentheses):
“For the second half of 2017, we now expect the BASF Group’s EBIT before special items to considerably exceed the level of the second half of 2016,” said Bock. “We are maintaining our forecast for sales, EBIT before special items and EBIT for full-year 2017: We expect them to increase considerably. The same now also applies to EBIT after cost of capital, for which we previously anticipated a slight increase.”

Development of the segments
Sales in the Chemicals segment rose by 25 percent compared with the prior-year quarter to approximately €4 billion. This was largely due to higher prices in all divisions, especially in Monomers. BASF also significantly increased sales volumes. Currency effects slightly dampened sales in all divisions. EBIT before special items rose by over €600 million to €1.1 billion. This was mainly a result of higher margins, especially in the Monomers division. The negative impact on earnings in the third quarter of 2017 caused by the North Harbor accident at the Ludwigshafen site was compensated by insurance payments. Fixed costs rose slightly.

In the Performance Products segment, sales increased by 2 percent compared with the third quarter of 2016 to just under €4 billion as a result of volumes growth in all divisions. Sales prices were on a level with the prior-year quarter. Price increases in the Dispersions & Pigments and Care Chemicals divisions were largely offset by significant price declines in the Nutrition & Health division. Currency effects, particularly from the U.S. dollar, and portfolio effects dampened sales growth. EBIT before special items declined by €88 million to €385 million. This was largely attributable to a further drop in vitamin prices as well as ongoing pressure on margins in a number of business areas due to higher raw materials prices. EBIT included special income in the Performance Chemicals division from the transfer of the leather chemicals business to Stahl Group.

Sales in the Functional Materials & Solutions segment were up 7 percent on the third quarter of 2016, at around €5 billion. This was attributable to higher prices as well as the Chemetall business, which was acquired from Albemarle in December 2016. Sales volumes rose in every division except Catalysts, where BASF posted a considerable decline in precious metal trading volumes.

Compared with the third quarter of 2016, sales volumes to the automotive and construction industries were further expanded. Sales were slightly weighed down by currency effects. At €397 million, EBIT before special items was down €100 million on the prior-year quarter. Earnings were dampened primarily by lower margins resulting from higher raw materials prices.

Sales in the Agricultural Solutions segment were down 6 percent on the third quarter of 2016, at €987 million. This was mainly the result of declining prices and volumes in Brazil. Negative currency effects put additional pressure on sales development. BASF was able to slightly increase overall volumes. EBIT before special items decreased by €76 million to €21 million. This was primarily due to the difficult market situation in Brazil. Earnings were also negatively impacted by the shutdowns of the production facilities in Beaumont, Texas, and Manatí, Puerto Rico, because of the hurricanes. Fixed costs were on a level with the prior-year quarter.

Sales in the Oil & Gas segment rose by 20 percent year-on-year to €739 million on the back of higher prices and volumes. The average price of a barrel of Brent blend crude oil in the third quarter of 2017 was $52 (prior-year quarter: $46). Gas prices on the European spot markets also rose compared with the prior-year quarter. Volumes growth was mainly driven by higher gas sales volumes.

Production volumes also increased slightly. EBIT before special items decreased by €14 million to €180 million. The prior-year figure included compensation payments from contract renegotiations. Net income nevertheless grew considerably, from €33 million to €139 million. This was mainly due to special income from the sale of shares in a natural gas field concession in Argentina.

At €548 million, sales in Other were up 2 percent on the prior-year quarter, mostly due to higher sales from services. EBIT before special items declined by €92 million to minus €325 million, partly as a result of valuation effects for BASF’s long-term incentive program.






Image via Shutterstock [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-10-26 04:00:00 [updated_at] => 2017-10-26 14:01:12 [last_updated_author] => 228513 [uploaded_by] => 228513 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["260130","258783","257665","257659","256792","256142","256111","256056","253399","253396","253304","252779","251471","251176","250781","249441","249361","247280","246545","245692"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [1] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261123 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 155541 [primary_image_old] => [slider_image_id] => 155541 [banner_image] => 0 [title] => BASF Donates $200G to United Way of Brazoria County for Hurricane Harvey Recovery Aid [short_title] => [summary] => [slug] => basf-donates-200g-to-united-way-of-brazoria-county-for-hurricane-harvey-recovery-aid [body] => As clean up and recovery efforts continue in the wake of Hurricane Harvey, BASF said it will donate $500,000 to aid relief efforts in affected areas along the Texas Gulf Coast.

As part of that commitment, $200,000 is going directly to United Way of Brazoria County. The remaining funds are being distributed to various relief organizations in other BASF communities impacted by the hurricane.

BASF also established a relief fund to allow employees to make donations either directly to fellow employees or to local aid organizations. To further support this relief fund, the BASF Corporation committed to matching employee donations dollar-for-dollar up to an additional $500,000.

“Hurricane Harvey didn’t just impact our business,” said Chris Witte, BASF SVP and Freeport Site GM. “The storm impacted our employees, our neighbors and our communities. This donation, and our employees’ commitment to rebuild, exemplifies the spirit of BASF.”

In addition to direct financial support, BASF is offering employees affected by the storm temporary housing, clean-up supplies, access to loans, free counselling and more. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-10-27 05:00:00 [updated_at] => 2017-10-24 13:58:39 [last_updated_author] => 228513 [uploaded_by] => 228513 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["259909","259908","258783","258110","257665","256792","256111","256036","254054","252779","252464","251471","250782","250781","250118","247280","246545","245692"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [2] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261873 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156580 [primary_image_old] => 91828 [slider_image_id] => 156580 [banner_image] => 0 [title] => BASF Increases Price for Formic Acid in the United States, Canada [short_title] => [summary] => [slug] => basf-increases-price-for-formic-acid-in-the-united-states-canada [body] => Effective Nov. 15, 2017, or as contracts allow, BASF will increase its prices for all grades of formic acid sold in the United States and Canada by $0.04/lb.

Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-11-01 12:53:00 [updated_at] => 2017-11-08 14:21:00 [last_updated_author] => 228513 [uploaded_by] => 142069 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["261983","261959","261875","261097","259058","258783","258149","257896","257869","256921","256792","256463","256111","256036","252779","251471","250781","248417","247280","247277"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [3] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261875 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156199 [primary_image_old] => [slider_image_id] => 156199 [banner_image] => 0 [title] => BASF Raises More than $10,000 for Suicide Awareness and Prevention [short_title] => [summary] => [slug] => basf-raises-more-than-10000-for-suicide-awareness-and-prevention [body] => BASF employees raised more than $10,000 to benefit the American Foundation for Suicide Prevention (AFSP) by hosting a fundraising dinner and participating in a 5K community walk.

The BASF employee group, ALLchemie, organized the dinner featuring raffle items and music from local band Category 5, who donated their time by performing at the dinner. BASF Corporation contributed $4,000 to the proceeds while employees raised additional funds by participating in the AFSP’s Out of the Darkness walk.

“Suicide is a very important public health issue that affects people of all ages,” said Greg Pflum, VP and GM of BASF’s Midwest Hub. “Knowing the risk factors and recognizing the warning signs for suicide can help prevention.”

The AFSP provides local and national education and advocacy programs with the goal of reducing the suicide rate. The group also funds research to improve interventions and train clinicians in suicide prevention. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-11-01 12:57:00 [updated_at] => 2017-11-02 11:42:36 [last_updated_author] => 228513 [uploaded_by] => 142069 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["261959","261873","261123","258783","258110","256792","256111","254055","254054","252779","252464","251471","250782","250781","250118","247280","246545"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [4] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261959 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156213 [primary_image_old] => [slider_image_id] => 156213 [banner_image] => 0 [title] => BASF, Applied Minerals Developing, Marketing Halloysite Clay-based Products [short_title] => [summary] => BASF will market halloysite clay-based products under a BASF trade name. [slug] => basf-applied-minerals-developing-marketing-halloysite-clay-based-products [body] => BASF, a world leader in kaolin for industrial applications, and Applied Minerals, Inc., a leading global producer of halloysite clay and advanced natural iron oxides, entered into a global co-exclusive Purchase and Supply Agreement to commercialize and market halloysite clay-based products within select global markets.

Applied Minerals will exclusively supply halloysite clay to BASF for the development and sale of co-branded halloysite clay-based products to key BASF markets, including paints and coatings, inks, rubber, adhesives, paper and ceramic honeycomb catalytic substrates.

BASF will market halloysite clay-based products under a BASF trade name to customers worldwide, with profits to be shared by both companies.

BASF and Applied Minerals have also entered a Tolling Agreement under which BASF will provide specialized toll manufacturing to complement Applied Minerals’ current halloysite production capabilities.

“Applied Minerals’ knowledge and experience with halloysite clay and BASF’s innovation, processing capability and market reach creates a truly synergistic partnership,” said Dr. Shane Porzio, VP of BASF Kaolin Business. “Our customers will benefit by having access to a broader portfolio that includes halloysite clay, a high-performance mineral additive, and our line of high-quality kaolin-based pigments and functional extenders.”

Added Andre Zeitoun, president and CEO of Applied Minerals: “Applied Minerals’ halloysite clay offers a wide array of functionality to applications and markets in which BASF is a proven global leader. Our deep knowledge of the unique properties of halloysite clay, combined with BASF’s expertise and reach, will promote product development and market penetration while providing customers access to our combined solutions.” [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-11-02 10:05:00 [updated_at] => 2017-11-02 11:31:17 [last_updated_author] => 228513 [uploaded_by] => 228513 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["261875","261873","261097","259058","258783","258149","257896","257869","256921","256792","256463","256111","256036","252779","251471","250781","248417","247280","247277","246545"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) ) [relatedContent] => Array ( [0] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261098 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 155678 [primary_image_old] => 0 [slider_image_id] => 155678 [banner_image] => 0 [title] => BASF: Sales, Earnings Grow 'Considerably' in 3Q 2017 [short_title] => [summary] => [slug] => basf-sales-earnings-grow-considerably-in-3q-2017 [body] => BASF Group recorded significant sales and earnings growth in the third quarter of 2017.

“We achieved solid volume growth, even compared with the strong prior-year quarter,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.

BASF Group sales rose by 9 percent compared with the prior-year quarter to €15.3 billion. This was primarily attributable to good volumes development as well as significantly higher sales prices in the Chemicals segment. Sales were also lifted by the Chemetall business, acquired in December 2016. All segments recorded slightly negative currency effects.

The strong contribution from the Chemicals segment lifted income from operations (EBIT) before special items by €244 million to €1.8 billion. BASF recorded a slight decrease in EBIT before special items in the Oil & Gas segment and a considerable decline in the remaining segments and in Other, mainly as a result of higher raw materials prices.

Third-quarter EBIT included net special items of €198 million, after minus €52 million in the prior-year quarter. This was mainly due to special income in the Performance Products segment from the transfer of BASF’s leather chemicals business to the Stahl group. As a result, EBIT rose from €1.5 billion to €2 billion.

Compared with the prior-year quarter, income from operations before depreciation, amortization and special items (EBITDA before special items) increased by €303 million to €2.8 billion and EBITDA by €570 million to €3 billion.

Net income rose by €448 million to €1.3 billion. Earnings per share were €1.45 in the third quarter of 2017, compared with €0.97 in the prior-year quarter. Adjusted for special items and amortization of intangible assets, earnings per share amounted to €1.40 (prior-year quarter: €1.10).

In the first three quarters of 2017, cash provided by operating activities rose by €1.8 billion year-on-year to €7.6 billion. This is mainly due to the rise in net income. Free cash flow rose from €2.9 billion to €5 billion in the first nine months of 2017.

Outlook for full-year 2017
BASF has slightly raised its expectations for the global economic environment in 2017 (forecast from the Half-Year Financial Report 2017 in parentheses):
“For the second half of 2017, we now expect the BASF Group’s EBIT before special items to considerably exceed the level of the second half of 2016,” said Bock. “We are maintaining our forecast for sales, EBIT before special items and EBIT for full-year 2017: We expect them to increase considerably. The same now also applies to EBIT after cost of capital, for which we previously anticipated a slight increase.”

Development of the segments
Sales in the Chemicals segment rose by 25 percent compared with the prior-year quarter to approximately €4 billion. This was largely due to higher prices in all divisions, especially in Monomers. BASF also significantly increased sales volumes. Currency effects slightly dampened sales in all divisions. EBIT before special items rose by over €600 million to €1.1 billion. This was mainly a result of higher margins, especially in the Monomers division. The negative impact on earnings in the third quarter of 2017 caused by the North Harbor accident at the Ludwigshafen site was compensated by insurance payments. Fixed costs rose slightly.

In the Performance Products segment, sales increased by 2 percent compared with the third quarter of 2016 to just under €4 billion as a result of volumes growth in all divisions. Sales prices were on a level with the prior-year quarter. Price increases in the Dispersions & Pigments and Care Chemicals divisions were largely offset by significant price declines in the Nutrition & Health division. Currency effects, particularly from the U.S. dollar, and portfolio effects dampened sales growth. EBIT before special items declined by €88 million to €385 million. This was largely attributable to a further drop in vitamin prices as well as ongoing pressure on margins in a number of business areas due to higher raw materials prices. EBIT included special income in the Performance Chemicals division from the transfer of the leather chemicals business to Stahl Group.

Sales in the Functional Materials & Solutions segment were up 7 percent on the third quarter of 2016, at around €5 billion. This was attributable to higher prices as well as the Chemetall business, which was acquired from Albemarle in December 2016. Sales volumes rose in every division except Catalysts, where BASF posted a considerable decline in precious metal trading volumes.

Compared with the third quarter of 2016, sales volumes to the automotive and construction industries were further expanded. Sales were slightly weighed down by currency effects. At €397 million, EBIT before special items was down €100 million on the prior-year quarter. Earnings were dampened primarily by lower margins resulting from higher raw materials prices.

Sales in the Agricultural Solutions segment were down 6 percent on the third quarter of 2016, at €987 million. This was mainly the result of declining prices and volumes in Brazil. Negative currency effects put additional pressure on sales development. BASF was able to slightly increase overall volumes. EBIT before special items decreased by €76 million to €21 million. This was primarily due to the difficult market situation in Brazil. Earnings were also negatively impacted by the shutdowns of the production facilities in Beaumont, Texas, and Manatí, Puerto Rico, because of the hurricanes. Fixed costs were on a level with the prior-year quarter.

Sales in the Oil & Gas segment rose by 20 percent year-on-year to €739 million on the back of higher prices and volumes. The average price of a barrel of Brent blend crude oil in the third quarter of 2017 was $52 (prior-year quarter: $46). Gas prices on the European spot markets also rose compared with the prior-year quarter. Volumes growth was mainly driven by higher gas sales volumes.

Production volumes also increased slightly. EBIT before special items decreased by €14 million to €180 million. The prior-year figure included compensation payments from contract renegotiations. Net income nevertheless grew considerably, from €33 million to €139 million. This was mainly due to special income from the sale of shares in a natural gas field concession in Argentina.

At €548 million, sales in Other were up 2 percent on the prior-year quarter, mostly due to higher sales from services. EBIT before special items declined by €92 million to minus €325 million, partly as a result of valuation effects for BASF’s long-term incentive program.






Image via Shutterstock [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-10-26 04:00:00 [updated_at] => 2017-10-26 14:01:12 [last_updated_author] => 228513 [uploaded_by] => 228513 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["260130","258783","257665","257659","256792","256142","256111","256056","253399","253396","253304","252779","251471","251176","250781","249441","249361","247280","246545","245692"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [1] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261123 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 155541 [primary_image_old] => [slider_image_id] => 155541 [banner_image] => 0 [title] => BASF Donates $200G to United Way of Brazoria County for Hurricane Harvey Recovery Aid [short_title] => [summary] => [slug] => basf-donates-200g-to-united-way-of-brazoria-county-for-hurricane-harvey-recovery-aid [body] => As clean up and recovery efforts continue in the wake of Hurricane Harvey, BASF said it will donate $500,000 to aid relief efforts in affected areas along the Texas Gulf Coast.

As part of that commitment, $200,000 is going directly to United Way of Brazoria County. The remaining funds are being distributed to various relief organizations in other BASF communities impacted by the hurricane.

BASF also established a relief fund to allow employees to make donations either directly to fellow employees or to local aid organizations. To further support this relief fund, the BASF Corporation committed to matching employee donations dollar-for-dollar up to an additional $500,000.

“Hurricane Harvey didn’t just impact our business,” said Chris Witte, BASF SVP and Freeport Site GM. “The storm impacted our employees, our neighbors and our communities. This donation, and our employees’ commitment to rebuild, exemplifies the spirit of BASF.”

In addition to direct financial support, BASF is offering employees affected by the storm temporary housing, clean-up supplies, access to loans, free counselling and more. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-10-27 05:00:00 [updated_at] => 2017-10-24 13:58:39 [last_updated_author] => 228513 [uploaded_by] => 228513 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["259909","259908","258783","258110","257665","256792","256111","256036","254054","252779","252464","251471","250782","250781","250118","247280","246545","245692"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [2] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261873 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156580 [primary_image_old] => 91828 [slider_image_id] => 156580 [banner_image] => 0 [title] => BASF Increases Price for Formic Acid in the United States, Canada [short_title] => [summary] => [slug] => basf-increases-price-for-formic-acid-in-the-united-states-canada [body] => Effective Nov. 15, 2017, or as contracts allow, BASF will increase its prices for all grades of formic acid sold in the United States and Canada by $0.04/lb.

Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-11-01 12:53:00 [updated_at] => 2017-11-08 14:21:00 [last_updated_author] => 228513 [uploaded_by] => 142069 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["261983","261959","261875","261097","259058","258783","258149","257896","257869","256921","256792","256463","256111","256036","252779","251471","250781","248417","247280","247277"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [3] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261875 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156199 [primary_image_old] => [slider_image_id] => 156199 [banner_image] => 0 [title] => BASF Raises More than $10,000 for Suicide Awareness and Prevention [short_title] => [summary] => [slug] => basf-raises-more-than-10000-for-suicide-awareness-and-prevention [body] => BASF employees raised more than $10,000 to benefit the American Foundation for Suicide Prevention (AFSP) by hosting a fundraising dinner and participating in a 5K community walk.

The BASF employee group, ALLchemie, organized the dinner featuring raffle items and music from local band Category 5, who donated their time by performing at the dinner. BASF Corporation contributed $4,000 to the proceeds while employees raised additional funds by participating in the AFSP’s Out of the Darkness walk.

“Suicide is a very important public health issue that affects people of all ages,” said Greg Pflum, VP and GM of BASF’s Midwest Hub. “Knowing the risk factors and recognizing the warning signs for suicide can help prevention.”

The AFSP provides local and national education and advocacy programs with the goal of reducing the suicide rate. The group also funds research to improve interventions and train clinicians in suicide prevention. [views] => 0 [published] => 1 [status] => 3 [priority] => 0 [publish_date] => 2017-11-01 12:57:00 [updated_at] => 2017-11-02 11:42:36 [last_updated_author] => 228513 [uploaded_by] => 142069 [user_role_id] => 0 [custom_fields] => [] [custom_fields_old] => [splitcontent] => 1 [content_url] => [related_content_ids] => ["261959","261873","261123","258783","258110","256792","256111","254055","254054","252779","252464","251471","250782","250781","250118","247280","246545"] [is_show_company_name] => [created_at] => 2019-04-09 04:36:23 ) [4] => Content Object ( [className] => Content [contentLinks] => Array ( ) [belongsTo] => [contentIssue] => [id] => 261959 [pageNumber] => [offset] => [totalPages] => [last_query] => [last_sql] => [show_errors] => 1 [databaseServer] => Array ( [key] => master [host] => 172.24.16.232 [user] => rodpub_beta [pass] => MvQQzhse92k58yA [db] => rodpub_beta ) [tableName] => contents [content_type_id] => 2487 [resource_id] => 0 [author_id] => 0 [primary_issue_slug] => [author_name] => {"name":"","title":""} [magazine_id] => 5 [layout_id] => 0 [primary_image] => 156213 [primary_image_old] => [slider_image_id] => 156213 [banner_image] => 0 [title] => BASF, Applied Minerals Developing, Marketing Halloysite Clay-based Products [short_title] => [summary] => BASF will market halloysite clay-based products under a BASF trade name. [slug] => basf-applied-minerals-developing-marketing-halloysite-clay-based-products [body] => BASF, a world leader in kaolin for industrial applications, and Applied Minerals, Inc., a leading global producer of halloysite clay and advanced natural iron oxides, entered into a global co-exclusive Purchase and Supply Agreement to commercialize and market halloysite clay-based products within select global markets.

Applied Minerals will exclusively supply halloysite clay to BASF for the development and sale of co-branded halloysite clay-based products to key BASF markets, including paints and coatings, inks, rubber, adhesives, paper and ceramic honeycomb catalytic substrates.

BASF will market halloysite clay-based products under a BASF trade name to customers worldwide, with profits to be shared by both companies.

BASF and Applied Minerals have also entered a Tolling Agreement under which BASF will provide specialized toll manufacturing to complement Applied Minerals’ current halloysite production capabilities.

“Applied Minerals’ knowledge and experience with halloysite clay and BASF’s innovation, processing capability and market reach creates a truly synergistic partnership,” said Dr. Shane Porzio, VP of BASF Kaolin Business. “Our customers will benefit by having access to a broader portfolio that includes halloysite clay, a high-performance mineral additive, and our line of high-quality kaolin-based pigments and functional extenders.”

Added Andre Zeitoun, president and CEO of Applied Minerals: “Applied Minerals’ halloysite clay offers a wide array of functionality to applications and markets in which BASF is a proven global leader. 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