BASF posts rising profits and is ready to enter biofuels

BASF Polska, the Polish division of the company posted revenues of zl.1.24 billion, which is a figure 15% up on 2004. The company is making its best profits on the sale of plastics and chemicals and now it is planning to enter the biofuels market, though not as a producer but as a supplier of components. However, the concern is probably not going to invest in Poland as it was discouraged several years ago by the Polish government's privatization program. BASF is also entering other markets. At the beginning of July it acquired Degussa, a concern producing chemicals used in building materials and became an owner of Degussa's two subsidiaries in Poland (Puls Biznesu, p. 10) M.M.