February 27, 2018 / 11:47 AM / 24 days ago

BASF sees U.S. tax reform driving up investment costs

FRANKFURT, Feb 27 (Reuters) - Chemicals maker BASF , which generates close to a quarter of its sales in North America, warned that U.S. tax reforms could heat up an investment sector where costs are already elevated.

“Will it automatically lead to more investments? That depends on a number of factors such as the market development, investment costs and available capacity to carry out investments,” BASF Chief Executive Kurt Bock told a news conference about fourth-quarter results.

“The specific investment costs in the U.S. are already at the highest level globally, and it is at times difficult to carry out investments on time and on budget.”

Reporting by Ludwig Burger; editing by Jason Neely

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