Dow, BASF, and other global chemical giants have fallen into a loss crisis
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Dow Chemical stated that its second-quarter loss was mainly due to the impact of spending related to the acquisition of Rohm and Haas and the general downturn in sales of various chemicals. In order to ease the current difficulties faced by the company, Dow Chemical plans to sell a newly restructured branch including styrene and polycarbonate to withstand the impact of the financial crisis on Dow.
From BASF's announcement of the second quarter 2009 financial report, BASF sales fell by 23% to 12.5 billion euros in the second quarter, with the chemicals, plastics, and functional solutions businesses performing particularly well due to the sluggish automotive and construction industries. Due to the status quo. Sales in the oil and gas business also declined.
Regarding the direction of future business development, Dow Chemical and BASF both stated that the economy in North America has bottomed out, while the Asia-Pacific region, especially China’s strong economic growth, seems to be stabilizing in the economic outlook for the rest of 2009. , will become the main direction of the company's business cooperation.