BASF’s Bock Propagates Wisdom of Caution as Global Growth Slows

BASF SE Chief Executive Officer Kurt Bock said companies are becoming more cautious about their growth opportunities, a sentiment he said is healthier than charging full-speed ahead as global economic prospects diminish.

BASF is keeping a close watch on inventories and pushing ahead with a 1 billion-euro ($1.4 billion) cost-saving program, Bock said today, as the world’s largest chemicals maker reported third-quarter earnings that exceeded analyst estimates. BASF, based in Ludwigshafen, cut its outlook for the global economy in 2011, and said growth next year will be slower.