BASF Sees 2014 Earnings Gain as Quarterly Profits Rise
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BASF SE predicts annual earnings to rise this year after the world’s biggest chemical maker posted fourth-quarter profit that beat analyst estimates on increased demand for catalysts and coatings from the car industry.
“We do not expect strong tailwinds this year,” Chief Executive Officer Kurt Bock said in today’s statement. “Nevertheless, we are cautiously optimistic with regards to global economic development.” For the global chemical industry, he predicts growth rates comparable with the previous year’s level and higher growth in industries such as the transportation, consumer goods and electronics industries.