06 August 1999
BASF on lookout for acquisitions

GERMAN chemicals giant BASF is was looking for acquisitions in the agrochemicals sector after announcing second-quarter profits of Euro380m (£250m), down 50%.

It said it would be interested in “participating actively in any restructuring”.

BASF has a 6% market share in agrochemicals, making a merger possible without raising anti-trust issues.

Its agricultural division, which accounts for about 12% of group sales, bucked recent trends by performing well this quarter.

AstraZeneca said this week it was reconsidering its commitment to the agrochemicals sector.