The company credits part of that growth to last year’s acquisition of ingredients supplier Cognis and its 2009 acquisition of chemicals company Ciba.
BASF (Ludwigshafen, Germany) reported record sales up 26% in 2010, to €63.9 billion. The company credits part of that growth to BASF's acquisition of ingredients supplier Cognis last year and its 2009 acquisition of chemicals company Ciba.
“We achieved record sales and earnings in 2010. In the chemicals business, in particular, we were able to take advantage of the strong economic recovery in 2010, which was more dynamic than we all initially expected,” says Dr. Jürgen Hambrecht, chairman of BASF’s board of executive directors.
The company predicts strong sales growth this year.