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BASF battles global slowdown

Thursday, October 25, 2012 - 03:42

Oct. 25 - BASF earnings growth is seen at just 2% as a global slowdown saps the world's biggest chemical maker. We talk to CEO Kurt Bock.

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BASF -- interest earnings forecast this year optical and oil on pesticides outweighed weakness and it's cool chemicals division -- the -- -- Joining me now is BASF chief executive. -- ball. I've missed -- -- these number of them to -- succeeds decent I -- yet you don't anticipate and improvements and chemicals in the fourth quarter when can we expect that. Actually musical good marvels what actually I think get a preview sewn into -- third -- every chief essentially what we etc. what -- ago. It was a mixed residing camera codes essentially for that development in terms of volume has an excellent. But she was three falling gas and called -- could have some business. I'm going forward what we see rod -- -- essentially also. A continuing -- development we don't see any growth stimulus. There also and even your group actually you news you know Asia and China develop. So it was just be clear you also don't expect an improvement in the global economy in the fourth quarter. When can we expect that Q1 Q2 next year. That's going to be a tough question to answer I think it's early to say we -- focusing -- all in the next three month. The long term growth prospects for the country in history of abuse of a suddenly. Very go to what is essentially for the next month and cordless received a pretty. -- development. How concerned are you about Gemini and of course for -- these am pretty dismal manufacturing PMI numbers yesterday the economy could well be in recession what. What's your view in Germany. Self I think -- has done very well and do manufacturing sector has performed. And very very high level we have seen -- some. They knew was from the automotive industry -- incidents are scaling back a little bit and that's the big customer industry for chemicals. Slow for the time being in Germany has done very well. They're marketed until liberals going -- Last week's vice president along and say it's out of Brussels summit that said the worst of the eurozone crisis is not at all look. Do you should not here to help his right I mean all the things on all in place we neither the doctor in a row so to say. It's not important to put into some really implement what they had promised a couple of things to an open. But I think the level of uncertainty two days is much lower than let's say six months ago. -- likewise do you think the rest of a breakup of the eurozone itself is not a you know aside as a very small risk if negligence. We know what his argument to you would break up I think this is. Ridiculous it's not going to happen there viewers that I think -- very stable currency overall we have some issues to resolve. Those -- and all in place and I'm quite optimistic for the Jerusalem actually. OK I finally just just that finishing up and many found across Europe are shedding their workforce that are laying off stuff. To try and maintain margins and as demand remains -- is that something that you'll be doing as well. I should be having on the what -- -- -- any major accidents initiative which also includes. Attributable cost improvement of productivity this is an ongoing process fault. Phobias. We don't I get to panic we just implement what we had said about a year ago to -- to vote. One billion euros by 2050 and this. Excellence program is very well on track. My fights that CNB ASF chief exact have cut ball Russell from us tonight.

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BASF battles global slowdown

Thursday, October 25, 2012 - 03:42