Eramet and BASF have decided not to jointly invest in a nickel-cobalt refining complex in Indonesia. This decision was met with a decline in BASF shares, further compounded by misses in sales and earnings. They had a 15% loss over three years, leading to speculation about future stock stability. But despite the loss, BASF is still considered undervalued by some investors. After a CEO changeover, the company’s earnings dropped further than anticipated. The company also reiterates its full-year guidance despite a disappointing Q2 profit. Additionally, BASF's shareholder structure is shifting with its parent firm selling the flocculants business to Solenis. Regarding their portfolio in the bio-tech sector, BASF is increasing its sodium methylate capacity and switching to bio-based ethyl acrylate. The company has also confirmed the biotransformation of its portfolio. They launched the world's first large-scale electrically heated steam cracker with Linde and entered a long-term recycled benzene deal with Encina. However, the company faced certain drawbacks when an explosion occurred in one of their sites in Germany, which affected their manufacturing capacity. They have planned to boost production of synthetic ester base in China to make up for this.
BASF Stocks News Analytics from Mon, 12 Jun 2017 07:00:00 GMT to Fri, 30 Aug 2024 15:39:50 GMT -
Rating -6
- Innovation 4
- Information 8
- Rumor -3
