COMPANIES BASF, the world’s largest chemicals company, has been hit by its first quarterly loss in seven years as the economic slump hit demand – a downward trend the German group said was showing no sign of abating.
Jürgen Hambrecht, chief executive, said chemical consumption had not picked up at the start of the year and that he expected 2009 sales to fall – for the first time since 2002 – and operating income to record “an even greater decline”.
