Tough environment sees sharp drop in BASF sales

Petrochemicals giant BASF has posted a 25 per cent drop in quarterly sales (compared with the prior-year period) on the back of a tough market environment and low demand from key customer industries. The company’s second-quarter sales were €17.3 billion ($19bn) while EBIT before special items dropped by €1.3bn ($1.4bn) to €1bn ($1.1bn). As a…