BASF's Long-Run Prospects Still Solid Despite Near-Term Economic Headwinds

BASF is the world’s largest chemical company, producing commodity and specialty chemicals in nearly every major chemical category. The firm maintains a top-three market position in more than two thirds of its businesses. The company’s products are sold to a wide variety of end markets ranging from industrials to transportation to pharmaceuticals to agriculture. Its catalysts business represents about 20%-25% of annual revenue, and the remaining 12 business lines each account for roughly 10% or less.