Lates News

German chemical giant BASF raised its full-year earnings forecast for the second time this year, driven by sharp increases in product prices and simultaneous sales growth. BASF said on Wednesday that it now expects full-year EBITDA before special items of at least 7.4 billion (about $8.2 billion), up from its previous forecast of at least 6.9 billion. BASF is seeking to acquire rival Evonik Industries AG. Last week, BASF already raised its acquisition offer to more than 11 billion. Acquiring Evonik would give BASF access to higher-margin business segments such as additives, adhesive resins and high-performance polymers.