BASF faces €100m charge for vitamins agreement
earnings will be impacted by a €100 million charge resulting from
the final settlements with purchasers of its vitamin products in
the US.
Leading German chemical company BASF said today its third quarter earnings will be impacted by a €100 million charge resulting from the final settlements with purchasers of its vitamin products in the US.
BASF said it has now reached agreements in principle to settle all remaining pending claims for damages from direct purchasers of vitamins sold in the US.
However it added that income from operations before special items for the third quarter of 2002 would still be considerably higher than in the same quarter in 2001.
In 2001, BASF had sales of €32.5 billion. The company makes high-performance products, including chemicals, plastics, coatings systems, dispersions, agricultural products, fine chemicals as well as crude oil and natural gas.
