BASF Confirms '06 Guidance, Expects Sales to Top More Than 50 Billion Euros

Chemical company BASF AG said Monday it expects to post more than 50 billion euros($64.5 billion) in revenue for 2006, confirming its guidance for the year.

Bayer Chief Financial Officer Kurt Bock confirmed the 2006 outlook at the Cheuvreux German Corporate Conference Frankfurt, and a copy of his report was posted on the company's Web site.

The Ludwigshafen-based company also said its pretax earnings would equal or be better than 2005's 6.14 billion euros. Revenue in 2005 reached 42.75 billion euros.

Sales are expected to be helped by Bayer's acquisitions last year of U.S. catalyst maker Engelhard, the construction chemicals unit of Germany's Degussa AG and U.S. resin producer Johnson Polymers.

BASF is scheduled to publish its fourth-quarter and full-year results on Feb. 22.

Shares of BASF rose nearly 1.2 % to 74.41 euros($95.94) in Frankfurt.

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