BASF expects 2013 to be weak year for global economic demand, which is affecting company's ability to forecast performance, North American chief says
December 6, 2012
(Industry Intelligence Inc.)
– The head of BASF SE's North American operations, Dr. Hans-Ulrich Engel, said he expects 2013 to be a weak year for global economic demand, which is affecting the company's ability to forecast performance, The Wall Street Journal reported Dec. 5.
Engel said that BASF currently has the ability to only forecast up to 90 days, instead of on a three-to-six-month basis, as consumer behavior has changed following the 2008 financial crisis. The company is still in its 2013 budgeting process and doesn't yet have specific guidance for the year ahead, Engel added.
BASF has thus far been making up for weakness in chemical orders with its earnings from agricultural products and its oil businesses, Engel said.
The primary source of this article is The Wall Street Journal, New York, New York, on Dec. 5, 2012.