LUDWIGSHAFEN, Germany (March 16)—BASF A.G.´s polyurethanes division reported a 29.7-percent sales increase last year to $2.58 billion, reflecting improved volumes in all regions and favorable currency translations. But earnings remained flat compared with 1999, due to higher costs for raw materials, particularly benzene, toluene and propylene, the company said. During 2000, acquisitions of U.S. firms IPI International and Hess Polyurethanes Inc. added to BASF´s PU sales as did the launch of ELLBA C.V., its propylene oxide/styrene monomer joint venture with Shell. The PU division´s sales and income are expected to increase in 2001, the company said.
BASF PU sales up, profits flat in 2000
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