Saturday, 16 October 2021

BASF starts programme to boost earnings by 2bn eur from 2021

Reuters

FRANKFURT: German chemicals maker BASF will launch what it called an excellence programme to boost annual earnings by 2 billion euros ($2.3 billion) from 2021 onwards.

“The programme will include measures focused on production, logistics, research and development as well as digitalization and automation activities and organizational development,” it said in a statement on Tuesday.

Chief Executive Martin Brudermueller, who took over in May, also said in the statement that BASF would focus primarily on organic growth through capital expenditures and innovation, but would make acquisitions where necessary.

 

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