The Day Europe Died

October 26, 20228:57 AM EDTLast Updated 4 days ago

4 minute read

BASF seeks 'permanent' cost cuts at European operations

By Ludwig Burger

FRANKFURT, Oct 26 (Reuters) - BASF (BASFn.DE) said costs at its European sites must be cut to a "permanently" smaller size because of a triple burden of sluggish growth, high energy costs and over-regulation, with the German industrial giant's boss throwing his weight behind a planned expansion in China.

Reporting by Ludwig Burger; editing by David Holmes and Jason Neely

  1. Cuts at home contrast with major investment drive in China

  2. CEO: state support is only quick fix that can't replace cutbacks

  3. Cites long-term burden of German energy costs, slow growth