BASF Earnings More Than Double in Quarter
Frankfurt, Germany, May 6, 2011 -- German chemical company BASF SE says it more than doubled first-quarter earnings thanks to increased demand for its chemicals and plastics.
BASF $3.5 billion in the quarter, compared with $1.49 billion in the same quarter a year ago.
The company reported a 25% increase in sales.
It said Cognis, the specialty chemicals firm it acquired in late 2010, made a "significant contribution" to sales growth.