MIRA INFORM REPORT

Report Date :

21.01.2014

IDENTIFICATION DETAILS

Name :	BASF SE
Registered Office :	Carl-Bosch-Str. 38, Ludwigshafen Am Rhein, 67056
Country :	Germany
Financials (as on) :	31.12.2012
Date of Incorporation :	14.01.2008
Com. Reg. No.:	HRB6000
Legal Form :	Public Parent
Line of Business :	Manufacture of chemical and chemical product
No. of Employees :	111,614

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Germany	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production

Source : CIA

Company name and address

BASF SE

Carl-Bosch-Str. 38
Ludwigshafen Am Rhein, 67056
Germany
Tel:	49-621-600
Fax:	49-621-6042525
www.basf.com

Employees:

111,614

Company Type:

Public Parent

Corporate Family:

761 Companies

Traded:

XETRA:	BAS
Over The Counter:	BASFY

Incorporation Date:

14-Jan-2008

Auditor:

KPMG AG

Fiscal Year End:	31-Dec-2012
Reporting Currency:	Euro
Annual Sales:	101,163.3 ^1
Net Income:	6,269.3
Total Assets:	85,021.1 ^2
Market Value:	80,399.3
	(30-Aug-2013)

Other address

Rechnungswesen, 67074 Ludwigshafen Ludwigshafen, Germany

Business Description

BASF SE is a German chemical company. It diversifies its activities into five business segments: Chemicals, providing basic products and specialties including nitric acid and methanol, basic chemicals including ethylene and butadiene and intermediates, among others; Performance Products, providing products for the coatings and paints industry, cosmetics, detergents, cleaners industry, vitamins, enzymes, products for the paper industry and performance chemicals, among others; Functional Materials & Solutions that develops coating products, catalysts and construction chemicals, among others; Agricultural Solutions, providing active ingredients and formulations for the improvement of crop health and yields, and Oil & Gas segment (exploration, production and natural gas trade). The segment Plastics (producing engineering plastics, polyamides and polyurethane solutions), divested as of January 1, 2013, is since then incorporated into segments Chemicals and Functional Materials & Solutions. For the six months ended 30 June 2013, BASF SE revenues increased 4% to EUR38.09B. Net income decreased 11% to EUR2.6B. Revenues reflect Oil & Gas segment increase of 16% to EUR7.5B, Agricultural Products segment increase of 18% to EUR3.28B, Other European Countries segment increase of 7% to EUR10.46B, Germany segment increase of 4% to EUR11.53B. Net income was offset by Performance Products segment income decrease of 14% to EUR773M.

Industry

Industry	Miscellaneous Chemical Manufacturing
ANZSIC 2006:	1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified
ISIC Rev 4:	2029 - Manufacture of other chemical products n.e.c.
NACE Rev 2:	2059 - Manufacture of other chemical products n.e.c.
NAICS 2012:	325199 - All Other Basic Organic Chemical Manufacturing
UK SIC 2007:	2059 - Manufacture of other chemical products n.e.c.
US SIC 1987:	2899 - Chemicals and Chemical Preparations, Not Elsewhere Classified

Key Executives

Name	Title
Robert Blackburn	President, Information Services and Supply Chain
Hans-Ulrich Engel	Chief Financial Officer
Volker Knabe	President, Engineering and Maintenance
Andreas Kreimeyer	Member of the the Board of Executive Directors, Research Executive Director
Magdalena Moll	Senior Vice President Investor Relations

Significant Developments

Topic	#*	Most Recent Headline	Date
Mergers & Acquisitions	9	Gazprom OAO Consults with PwC on Asset Exchange with BASF SE's Wineshall-Interfax	11-Apr-2013
Divestitures	2	Rockwool International A/S Acquires BASF Wall Systems GmbH & Co. KG from BASF SE	18-Jul-2013
Strategic Combinations	3	Koninklijke Ten Cate NV and BASF SE Welcome Owens Corning as Partner in Thermoplastic Automotive Composites Alliance	14-Mar-2013
Business Deals	1	BASF SE And Dyadic International, Inc Enter Into Research And License Agreement	15-May-2013
Equity Investments	1	Swedbank AB to Sell Shares in Pronova Biopharma ASA to BASF SE	6-Dec-2012

News

Title	Date
Corrosion Inhibitors (Organic And Inorganic) For Water Based And Oil/Solvent Based Applications In Power Generation, Metal Processing, Pulp And Paper, Oil And Gas And Chemical Processing - Global Industry Analysis, Size, Share, Growth, Trends And For Individual.com (2893 Words)	19-Sep-2013
Penny Stock's Trader's Round Up - Media Analytics Corp (OTCBB:MEDA), BASF SE (ADR) (OTCMKTS:BASFY), Ross Stores, Inc. (NASDAQ:ROST), HEMP, INC. (OTCMKTS:HEMP) SBWire (721 Words)	19-Sep-2013
Stocks to Watch - Bayer AG (ADR) (OTCMKTS:BAYRY), BASF SE (ADR) (OTCMKTS:BASFY) and COOPER STD HLDG INC (OTCMKTS:COSH). SBWire (747 Words)	19-Sep-2013
WIPO PUBLISHES PATENT OF FRIEDRICH-ALEXANDER-UNIVERSITAT ERLANGEN-NURNBERG AND BASF FOR "METHOD FOR SYNTHESISING AMINOBIPHENYLS USING ARYL... U.S. Fed News (194 Words)	19-Sep-2013
WIPO PUBLISHES PATENT OF BASF SCHWEIZ AND BASF FOR "CONTINUOUS PROCESS FOR THE SYNTHESIS OF GRAFT POLYMERS BASED ON POLYETHERS" (GERMAN INVENTORS) U.S. Fed News (245 Words)	19-Sep-2013
Markets Best Report : Global Catalyst Market 2012-2016 SBWire (1426 Words)	18-Sep-2013

Financial Summary

As of 30-Jun-2013

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.74	2.18
Quick Ratio (MRQ)	1.16	1.35
Debt to Equity (MRQ)	0.58	0.82
Sales 5 Year Growth	6.32	6.26
Net Profit Margin (TTM) %	6.33	10.56
Return on Assets (TTM) %	7.65	8.26
Return on Equity (TTM) %	18.58	22.07

Stock Snapshot

Traded: XETRA: BAS

As of 30-Aug-2013

   Financials in: EUR

Recent Price	66.13	EPS	5.00
52 Week High	76.39	Price/Sales	0.77
52 Week Low	60.34	Dividend Rate	2.60
Avg. Volume (mil)	3.03	Price/Earnings	13.92
Market Value (mil)	60,739.00	Price/Book	2.47
		Beta	1.32

	Price % Change	Rel S&P 500%
4 Week	-2.58%	1.07%
13 Week	-12.10%	-9.44%
52 Week	8.02%	-8.08%
Year to Date	-7.06%	-12.69%

Registered No.(Other)

HRB6000

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566

Corporate Overview

Location
Carl-Bosch-Str. 38
Ludwigshafen Am Rhein, 67056
Germany

Tel:	49-621-600
Fax:	49-621-6042525

www.basf.com

Quote Symbol - Exchange
BAS - XETRA
Sales EUR(mil):	78,729.0
Assets EUR(mil):	64,327.0
Employees:	111,614
Fiscal Year End:	31-Dec-2012

Industry:	Chemical Manufacturing

Incorporation Date:	14-Jan-2008
Company Type:	Public Parent
Quoted Status:	Quoted
Registered No.():	HRB6000
Parent Registered No.(UK):	DEU

President - South and East Asia, ASEAN, and Australia/New Zealand.:	Gops Pillay

Industry Codes

ANZSIC 2006 Codes:
1899	-	Other Basic Chemical Product Manufacturing Not Elsewhere Classified
1832	-	Pesticide Manufacturing
1829	-	Other Basic Polymer Manufacturing
1821	-	Synthetic Resin and Synthetic Rubber Manufacturing
0700	-	Oil and Gas Extraction
1841	-	Human Pharmaceutical and Medicinal Product Manufacturing
1813	-	Basic Inorganic Chemical Manufacturing
1812	-	Basic Organic Chemical Manufacturing

ISIC Rev 4 Codes:
2029	-	Manufacture of other chemical products n.e.c.
2013	-	Manufacture of plastics and synthetic rubber in primary forms
2011	-	Manufacture of basic chemicals
2100	-	Manufacture of pharmaceuticals, medicinal chemical and botanical products
2021	-	Manufacture of pesticides and other agrochemical products
06	-	Extraction of crude petroleum and natural gas
2030	-	Manufacture of man-made fibres

NACE Rev 2 Codes:
2059	-	Manufacture of other chemical products n.e.c.
2017	-	Manufacture of synthetic rubber in primary forms
2014	-	Manufacture of other organic basic chemicals
2016	-	Manufacture of plastics in primary forms
2012	-	Manufacture of dyes and pigments
2120	-	Manufacture of pharmaceutical preparations
06	-	Extraction of crude petroleum and natural gas
2060	-	Manufacture of man-made fibres
2020	-	Manufacture of pesticides and other agrochemical products

NAICS 2012 Codes:
325199	-	All Other Basic Organic Chemical Manufacturing
325130	-	Synthetic Dye and Pigment Manufacturing
325412	-	Pharmaceutical Preparation Manufacturing
325212	-	Synthetic Rubber Manufacturing
211111	-	Crude Petroleum and Natural Gas Extraction
325320	-	Pesticide and Other Agricultural Chemical Manufacturing
325194	-	Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing
325211	-	Plastics Material and Resin Manufacturing
325220	-	Artificial and Synthetic Fibers and Filaments Manufacturing

US SIC 1987:
2899	-	Chemicals and Chemical Preparations, Not Elsewhere Classified
2824	-	Manmade Organic Fibers, Except Cellulosic
2865	-	Cyclic Organic Crudes and Intermediates, and organic Dyes and Pigments
2869	-	Industrial Organic Chemicals, Not Elsewhere Classified
2822	-	Synthetic Rubber (Vulcanizable Elastomers)
2816	-	Inorganic Pigments
2821	-	Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers
1311	-	Crude Petroleum and Natural Gas
2879	-	Pesticides and Agricultural Chemicals, Not Elsewhere Classified
2834	-	Pharmaceutical Preparations

UK SIC 2007:
2059	-	Manufacture of other chemical products n.e.c.
2017	-	Manufacture of synthetic rubber in primary forms
2014	-	Manufacture of other organic basic chemicals
2016	-	Manufacture of plastics in primary forms
2012	-	Manufacture of dyes and pigments
2120	-	Manufacture of pharmaceutical preparations
06	-	Extraction of crude petroleum and natural gas
2060	-	Manufacture of man-made fibres
2020	-	Manufacture of pesticides and other agrochemical products

Top

Business Description

BASF SE is a chemical company. The Company operates in six segments: Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural Solutions and Oil & Gas. Chemicals segment offers products in the chemical, electronic, construction, textile, automotive, pharmaceutical and agricultural industries. Plastics segment offers a range of products, system solutions and services. Performance Products help its customers to improve their products and processes. Functional Solutions segment bundles system solutions and products for customers and industries. The Company’s Agricultural Solutions segment includes crop protection products, which guard against fungal diseases, insects and weeds. Its Oil & gas segment is a producer of oil and gas. On April 9, 2009, the Company acquired Ciba Holding AG. In April 2010, Intertek Group plc acquired the Regulatory and Safety Testing businesses of Ciba Expert Services (Ciba ES) from the Company. In December 2010, the Company completed its acquisition of Cognis Holding GmbH from Cognis Holding Luxembourg S.a r.l.

Chemicals

The Company’s Chemicals segment portfolio ranges from basic chemicals, glues and electronic chemicals for the semiconductor and flat panel display industry, to solvents and plasticizers, as well as starting materials for detergents, plastics, textile fibers, paints, coatings and pharmaceuticals. This segment is organized into three divisions: Inorganics, Petrochemicals and Intermediates. The important basic products of the Inorganics division are ammonia, methanol, sodium hydroxide, chlorine, as well as sulfuric and nitric acid. The Petrochemicals division produces products, such as ethylene, propylene, butadiene and benzene, which are produced in steam crackers from naphtha or natural gas. In further processing stages, it produces alcohols, solvents and plasticizers for the chemicals and plastics industries. BASF SE’s Intermediates division develops, produces and markets a range of intermediates of all producers worldwide. The product lines include amines, diols, polyalcohols, acids and specialties. They serve as starting materials for products, such as coatings, plastics, pharmaceuticals, textile fibers, crop protection products, as well as detergents and cleaners.

Plastics

BASF’s Plastics segment is organized into two divisions: Performance Polymers and Polyurethanes. The Performance Polymers division is a supplier of engineering plastics, polyamides and polyamide intermediates, foams and specialty plastics. The Company offers its customers a portfolio of engineering plastics based on polyamide 6 and polyamide 6,6. This is complemented by products Ultradur, Ultraform and Ultrason. For the packaging, textile and food industries, it offers Ultramid, a base product for the manufacturing of fibers and foils. BASF SE’s product range also includes Ecoflex and Ecovio, biodegradable specialty plastics for the packaging industry. Styropor and its refinement Neopor are styrene-based precursors for foams used in insulating material for construction and packaging. The Polyurethanes division is a supplier of basic products, systems and specialties. The Company offers polyurethane products for numerous customer applications. Under brand names, such as Elastoflex and Elastopor, polyurethanes are used, as rigid or flexible foams in construction for furniture and household appliances.

Performance Products

The Performance Products segment consists of the Acrylics & Dispersions, Care Chemicals and Performance Chemicals divisions. Acrylics & Dispersions produces acrylic acid, as well as its derivatives superabsorbents and polymer dispersions. Superabsorbents are used particularly in diapers. Polymer dispersions are used in the production of glues, coatings, nonwoven materials and construction chemicals. The Company’s product portfolio for the paper industry consists of binders, process chemicals and kaolin pigments. Its Care Chemicals portfolio consists of products for cleaning, care, cosmetics and hygiene. Performance Chemicals pools specialties for various customer industries. The product portfolio consists of antioxidants, pigments, light stabilizers and specialty additives. The division also makes chemicals for the production and finishing of leather and textiles.

Functional Solutions

The Functional Solutions segment consists of the Catalysts, Construction Chemicals and Coatings divisions. The Catalysts division develops catalysts and adsorbents. It produces catalysts that transform pollutants in the exhaust flows of vehicles into harmless chemical and plastics. The Construction Chemicals division is engaged in development of concrete admixtures, such as concrete plasticizers, deferrers and curing agents. It also produces and markets construction systems. The Coatings division is a provider of coatings solutions for automotive and industrial applications. Its brands Glasurit and R-M are for the car refinish business.

Agricultural Solutions

The Agricultural Solutions segment consists of the Crop Protection division. The Company develops and produces active ingredients and formulations for the improvement of crop health and yields, and markets them worldwide. Its portfolio includes fungicides, insecticides, herbicides and seed treatments. Its product Headline contains the active ingredient F500, which is not only used for corn and soybean, but also for numerous other crops.

Oil & Gas

BASF’s oil and gas activities are bundled in the Wintershall Group. Wintershall and its subsidiaries operate in the business sectors exploration and production, and natural gas trading. In the exploration and production of oil and natural gas, the Company focuses on oil and gas regions in Europe, North Africa and South America, as well as Russia and the Caspian Sea region. The Mittelplate oil field in the North Sea tidal flats is the cornerstone of the Company’s oil production in Germany. Wintershall and RWE-DEA each hold a 50% interest in this field. During the year ended December 31, 2009, it acquired 25% interest in Cuxhaven concession. It operates 26 offshore platforms in Mittelplate region, of which 19 are actually controlled. In Libya, Wintershall operates eight onshore oil fields in the concessions 96 and 97 and exploits the associated gas released during crude oil production in a gas utilization plant for the local demand. In Mauritania, it operates two onshore exploration blocks. In 2008, Wintershall acquired stakes of 50% each in two exploration areas in the Canadon Asfalto Basin. It supplies Germany and several other European countries. The gas pipeline network operated by WINGAS TRANSPORT connects the markets in Western Europe with a natural gas infrastructure that runs through Eastern Europe and the Russian Federation all the way to the gas fields in Siberia. Other components portfolio include natural gas storage facility in Western Europe, in Rehdn, Germany, and the natural gas storage facility in Haidach, Austria

More Business Descriptions

BASF SE is a German chemical company. It diversifies its activities into five business segments: Chemicals, providing basic products and specialties including nitric acid and methanol, basic chemicals including ethylene and butadiene and intermediates, among others; Performance Products, providing products for the coatings and paints industry, cosmetics, detergents, cleaners industry, vitamins, enzymes, products for the paper industry and performance chemicals, among others; Functional Materials & Solutions that develops coating products, catalysts and construction chemicals, among others; Agricultural Solutions, providing active ingredients and formulations for the improvement of crop health and yields, and Oil & Gas segment (exploration, production and natural gas trade). The segment Plastics (producing engineering plastics, polyamides and polyurethane solutions), divested as of January 1, 2013, is since then incorporated into segments Chemicals and Functional Materials & Solutions. For the six months ended 30 June 2013, BASF SE revenues increased 4% to EUR38.09B. Net income decreased 11% to EUR2.6B. Revenues reflect Oil & Gas segment increase of 16% to EUR7.5B, Agricultural Products segment increase of 18% to EUR3.28B, Other European Countries segment increase of 7% to EUR10.46B, Germany segment increase of 4% to EUR11.53B. Net income was offset by Performance Products segment income decrease of 14% to EUR773M.

Chemicals: In the Chemicals segment BASF supplies products to customers in the chemical, electronics, construction, textile, automotive, pharmaceutical and agricultural industries. The portfolio ranges from basic chemicals, glues and electronic chemicals for the semiconductor and solar cell industries, to solvents and plasticizers, as well as starting materials for products such as detergents, plastics, textile fibers, paints and coatings and pharmaceuticals. Plastics: The Plastics segment includes a broad range of products, system solutions and services. BASF offers a number of engineering plastics for the automotive and electric industries as well as for use in household appliances and sports and leisure products. The styrenic foams are used as insulating materials in the construction industry and in packaging. BASF's polyurethanes are extremely versatile: as soft foams, for example, they improve car seats and mattresses, and as rigid foams they serve as highly efficient insulation in refrigerators. Performance Products: Vitamins and food additives as well as ingredients for pharmaceuticals and for hygiene, home and personal care items. Other Performance Products improve processes in the paper industry, oil production, mining and water treatment. They can enhance the efficiency of fuels and lubricants, the effectiveness of adhesives and coatings and the stability of plastics. Functional Solutions: Automotive and industrial catalysts, automotive and industrial coatings, as well as concrete admixtures and construction systems such as tile adhesives and architectural coatings. Agricultural Solutions: Crop protection products and research in plant biotechnology. Oil and gas: exploration and production and natural gas trading

Holding Company; Automotive & Industrial Coatings, Chemicals, Plastics, Agricultural & Performance Products Mfr; Oil & Natural Gas Production

BASF SE is primarily engaged in manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol; mono- and polycarboxyclic acids including acetic acid; other oxygen-function compounds including aldehydes, ketones, quinones and dual or poly oxygen-function compounds; nitrogen-function organic compounds including amines; other organic compounds including wood distillation products, etc.; manufacture of charcoal; production of pitch and pitch coke; manufacture of synthetic aromatic products; and distillation of coal tar.

BASF SE (BASF) is the chemical companies that offers chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. It operates through nearly 380 production sites and six verbund sites across the world. The company serves diversified industries such as furniture, paper, automotive, utilities and has customers in nearly 200 countries. Its product line includes basic chemicals, styrenic foams, engineering plastics, electronic chemicals, soft foams, food additives, industrial catalysts and others. BASF operates through six segments, namely, Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural solutions and Oil & Gas. The Chemical segment combines the inorganic, petrochemicals and intermediates division. The inorganic portfolio ranges from inorganic basic chemicals to glues and specialties such as electronic chemicals for the semiconductor and flat screen industries. The petrochemicals division forms the basis value-adding chain for the company. In addition, it produces solvents and plasticizers for the chemical and plastics industries. The intermediates segment comprises products that are used as raw materials in products such as detergents, plastics, textile fibers, paints and coatings as well as pharmaceuticals. The pharmaceutical, construction, textile and automotive industries are the major customers of the company. The company produces a broad range of basic chemicals and higher value products at integrated production facilities - the Verbund - in Europe, Asia and North America. Furthermore, the company offers high-quality alcoholates, for the production of Biodiesel, which are used as catalysts. For the fiscal year ended 2012, the Chemicals segment accounted for 18% of the total revenue of the company. The Plastics segment includes two operating divisions, namely, performance polymers and polyurethanes. The performance polymers division develops engineering plastics, polyamides, polyamide intermediates, as well as specialty styrenic polymers and foam precursors. These are also used in packaging, and in the construction, automotive and the electrical industries. Its polyurethane product line includes polyols, propylene oxide, TDI and MDI. For the fiscal year ended 2012, the Plastics segment accounted for 14% of the total revenue of the company.The Performance Product segment consists of dispersions and pigments, care chemicals, paper chemicals and performance chemicals. The dispersions and pigments division consists of pigments, resins and additives for the coatings industry as well as polymers for adhesives, and the construction industry. The care chemicals include all the products for the cleaning, care and hygiene sectors such as super absorbents for diapers and others. The performance chemicals division develops solutions for the oil, automotive, coatings and plastics industries, and for the manufacture of leather and textiles such as resins and pigments, and fuel additives. For the fiscal year ended 2012, the Performance Product segment accounted for 20% of the total revenue of the company.The Functional Solutions segment is integrated into three operating divisions namely, catalysts, construction chemicals and coatings. These divisions develop system solutions and innovative products for automotive and construction sectors. The catalysts division develops and produces automotive and industrial catalysts. Theses catalysts are converted from harmful substances to raw material for energy efficiency. This segment is also involved in the manufacturing of products that make construction safer, environmentally good and efficient through construction chemical division. The coatings division is engaged in the supply of automotive coatings, automotive refinishes industrial coatings and decorative paints. Under Catalyst, BASF offers refining and recycling services. The company operates refineries in Rome, Italy, Seneca, South Carolina and operates an auto catalyst processing plant in Lincoln Park, the US. For the fiscal year ended 2012, the Functional Solutions segment accounted for 15% of the total revenue of the company. The company’s Agricultural Solution segment deals in crop protection. The crop protection products are used to safeguard crops against insects, fungal disease and weeds to improve the quality yield. This division conducts research in the field of plant biotechnology and constantly develops new products for more efficient agriculture, healthy nutrition and use of renewable raw materials. For the fiscal year ended 2012, the Agricultural Solution segment accounted for 6% of the total revenue of the company. The company’s Oil and Gas segment explores and produces crude oil and natural gas through Wintershall Group. The operating regions of the company include Europe, North Africa, South America, along with Russia and the Caspian Sea region. The company is also active in trading, transportation and storage of natural gas in Europe with the support of its Russian partner, Gazprom. For the fiscal year ended 2012, the Oil and Gas segment accounted for 21% of the total revenue of the company. It also supplies key products for the production of wind turbines, which include products used for the production of wind turbine blades, solvent-free polyurethane Gelcoat-System for roterblades. It also offers a solvent-free thick building coating solution for towers for onshore as well as for offshore-plants. Furthermore, the company through its subsidiary, BASF Fuel Cell, supplies MEAs, fuel cell and reformer catalysts, and gas diffusion materials for the fuel cell industry. , transportation and storage of natural gas in Europe with the support of its Russian partner, Gazprom. For the fiscal year ended 2012, the Other segment accounted for 6% of the total revenue of the company. The company’s Research and Development activities are principally focused on the development of innovative production processes by improving existing products and applications. The products which are newly developed are customized according to the needs of internal and external clients. For the fiscal year ended 2012, the company spent 2.2% of its revenue towards its research and development activity. BASF has global operations Europe, Asia Pacific, South America, Africa, Middle East and North America. For the fiscal year 2012, Europe region accounted for 54.5% of the total revenue of the company, followed by North America (18.4%), Asia Pacific (19%) and South America, Africa, Middle East (8.2%). In June, 2013, the company acquired Deutsche Nanoschicht GmbH. In the same month, the company launched its new laboratory for mining in Johannesburg and granted license to Richard Alan Engineering Company Limited for manufacturing and marketing polymer make-up and dosing equipment exclusive for water treatment applications. In May 2013, the company introduced new brand, namely, Newtrition, for the human nutrition market. In the same month, the company announced its plans to begin production of 1,4-butanediol based on renewable feedstock (renewable BDO) using the patented process of Genomatica. In April 2013, the company launched two new Catamold products for metal injection molding industry. In the same month, the company has also developed a refinishing system for rotor blades.

BASF SE (BASF) is a chemical company. It researches, develops, produces, markets and sale chemicals, plastics, agricultural solutions, oil and gas and performance products. It caters to a range of industries including construction, furniture, paper, automotive, utilities, and others. BASF carries out research and development activities in alliance with global customers, science and partners. Its key partners comprise Gazprom, Sinopec, Petronas, Total and others. The company operates through an extensive network of manufacturing facilities across the world. It has presence in Europe, Asia Pacific, South America, Africa, Middle East and North America. BASF is headquartered in Ludwigshafen, Germany.The company reported revenues of (Euro) EUR 78,729.00 million during the fiscal year ended December 2012, an increase of 7.12% over 2011. The operating profit of the company was EUR 8,976.00 million during the fiscal year 2012, an increase of 4.54% over 2011. The net profit of the company was EUR 4,879.00 million during the fiscal year 2012, a decrease of 21.15% from 2011.

Chemicals - Diversified (Major)

Brand/Trade Names
Ultradur(R) Ultraform(R) Ultramid(R) Ultrason(R) Polystyrol Styroflex(R) Styrolux(R) Styroblend(R) Lucryl(R) Terluran(R) Luran(R) Luran(R)S Terlux(R) PPE-Blend Luranyl(R)	Vinoflex(R) Vinidur(R) Vinuran(R) Styropor(R) Neopolen(R) Styrodur(R) Basotect(R) Elastopreg(R) ACRESIN(R) AgBalance(R) AgCelence(R) AMFLORA(R) BAXXODUR(R)

Financial Data

Financials in:	EUR(mil)
Revenue:	78,729.0
Net Income:	4,879.0
Assets:	64,327.0
Long Term Debt:	9,175.0
Total Liabilities:	39,747.0
Working Capital:	6.4
Date of Financial Data:	31-Dec-2012

1 Year Growth

7.1%

-21.2%

5.2%

Market Data

Quote Symbol:	BAS
Exchange:	XETRA
Currency:	EUR
Stock Price:	66.1
Stock Price Date:	08-30-2013
52 Week Price Change %:	8.0
Market Value (mil):	60,739,000.0
SEDOL:	5086577
ISIN:	DE000BASF111
Equity and Dept Distribution:
93-95 share figures adjusted for 10:1 split, 9 May 96 Company name changed from BASF AG. 06/2008, 2-for-1 stock split.

Subsidiaries

Company	Percentage Owned	Country
BASF South East Asia Pte Ltd		SINGAPORE
BASF QuÃmica Colombiana S.A.	100%	COLOMBIA
Cognis International GmbH	100%	GERMANY
Cognis IP Management GmbH	100%	GERMANY
BASF Bangladesh Limited		BANGLADESH
BASF Dominicana S.A.		DOMINICAN REPUBLIC
BASF AB	100%	SWEDEN
BASF Pharma (Evionnaz) SA	100%	SWITZERLAND
BASF Peruana S.A.		PERU
BASF Intertrade Corporation	100%	USA
BASF Investments Canada Inc.	100%	CANADA
BASF Pipeline Holdings LLC	100%	USA
BASF Plant Science LP	100%	USA
BASF Properties Inc.	100%	CANADA
BASFIN Corporation	100%	USA
Cognis Canada Corporation	100%	CANADA
Chemical Insurance Company Ltd.	100%	BERMUDA
Engelhard Asia Pacific LLC	100%	USA
Lumerica Insurance Company	100%	USA
Oliver Warehouse Inc.	100%	USA
PolyAd Services Inc.	100%	USA
ProCat Testing Holdings Inc.	100%	USA
ProCat Testing LLC	100%	USA
Thousand Springs Trout Farms Inc.	100%	USA
Tradewinds Chemicals Corporation	100%	USA
Tradewinds Holding LLC	100%	USA
Watson Bowman Acme Corp.	100%	USA
BASF Asia Pacific (India) Pvt. Ltd.	100%	INDIA
BASF Asia Pacific Service Centre Sdn. Bhd.	100%	MALAYSIA
BASF Auxiliary Chemicals Company Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Catalysts (Guilin) Co. Ltd.	96%	PEOPLE'S REPUBLIC OF CHINA
BASF Catalysts India Pvt. Ltd.	94%	INDIA
BASF Catalysts (Shanghai) Co. Ltd.	96%	PEOPLE'S REPUBLIC OF CHINA
BASF Central Asia LLP	100%	KAZAKHSTAN
BASF Chemcat (Thailand) Ltd.	77%	THAILAND
BASF Chemicals Company Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Coatings (India) Private Ltd.	100%	INDIA
BASF Coatings Japan Ltd.	100%	JAPAN
BASF Construction Chemicals Australia Pty Ltd.	100%	AUSTRALIA
BASF Construction Chemicals (China) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF California Inc.	100%	USA
BASF Construction Chemicals (India) Private	100%	INDIA
BASF Construction Chemicals (Sichuan) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Electronic Materials Taiwan Ltd.	100%	TAIWAN
BASF Hong Kong Ltd.	100%	HONG KONG SAR
BASF Idemitsu Co. Ltd.	67%	JAPAN
BASF Japan Ltd.	100%	JAPAN
BASF New Zealand Ltd.	100%	NEW ZEALAND
BASF Petronas Chemicals Sdn. Bhd.	60%	MALAYSIA
BASF PJPC Neopentylglycol Company	60%	PEOPLE'S REPUBLIC OF CHINA
BASF Polyurethanes (China) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Polyurethane Specialties (China) Co.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Pozzolith Ltd.	100%	JAPAN
BASF Services (Malaysia) Sdn. Bhd.	100%	MALAYSIA
BASF Shanghai Coatings Company Ltd.	60%	PEOPLE'S REPUBLIC OF CHINA
BASF Styrenics Holding Company	100%	MAURITIUS
BASF Trading (Shanghai) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Vietnam Co. Ltd.	100%	VIETNAM
BASF Vitamins Company Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
Ciba (Australia) Pty. Ltd.	100%	AUSTRALIA
Ciba (Nanjing) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
Wintershall Holding AG	100%	GERMANY
Engelhard China Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
Engelhard Metals Japan Ltd.	100%	JAPAN
Hachiyo Consultant Co. Ltd.	60%	JAPAN
Shanghai BASF Polyurethane Company	70%	PEOPLE'S REPUBLIC OF CHINA
Shanghai Ciba Gao-Qiao Chemical Co.	75%	PEOPLE'S REPUBLIC OF CHINA
Yangzi-BASF Styrenics Co. Ltd.	50%	PEOPLE'S REPUBLIC OF CHINA
BASF Construction Chemicals Egypt (SAE)	50%	EGYPT
BASF Construction Chemicals Limitada	100%	CHILE
BASF Construction Chemicals South Africa (Pty) Ltd.	100%	SOUTH AFRICA
BASF Corporate Services Chile SA	100%	CHILE
BASF Poliuretanos Ltda.	100%	BRAZIL
BASF Poliuretanos S.A.	100%	ARGENTINA
BASF South Africa (Pty.) Ltd.	100%	SOUTH AFRICA
Ciba Middle East W.L.L.	100%	BAHRAIN
Ciba (Pty.) Ltd.	100%	SOUTH AFRICA
BASF Paper Chemicals (Jiangsu) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Portuguesa, Lda	100%	PORTUGAL
BASF Indonesia, PT	100%	INDONESIA
BASF Nederland BV	100%	NETHERLANDS
BASF Polyurethanes GmbH	100%	GERMANY
BASF Construction Chemicals Europe AG	100%	SWITZERLAND
BASF Yapi Kimyasallari Sanayi AS	100%	TURKEY
BASF Poliuretani Italia SpA		ITALY
BASF Coatings Services SARL		FRANCE
BASF Construction Chemicals France SASU	100%	FRANCE
BASF Beauty Care Solutions France SAS	100%	FRANCE
BTC Speciality Chemical Distribution France SAS		FRANCE
BASF Argentina S.A.	100%	ARGENTINA
BASF Company Limited	100%	SOUTH KOREA
BASF Taiwan Limited	100%	TAIWAN
Cognis Klmya San ve Tic AS	100%	TURKEY
BASF Holdings South Africa (Pty) Ltd	100%	SOUTH AFRICA
BASF Construction Chemicals S.A.	100%	PERU
BASF Philippines Inc	100%	PHILIPPINES
Cognis Beteiligungs-GmbH	100%	GERMANY
Cognis Financial Services GmbH	100%	GERMANY
BASF Mexicana, S.A. de C.V.	100%	MEXICO
Cognis Holding GmbH	100%	GERMANY
BASF Pakistan (Private) Limited	51%	PAKISTAN
Basf Chile S.A.		CHILE
BASF Chemicals and Polymers Pakistan (Private) Limited		PAKISTAN
BASF Ireland Ltd	100%	REPUBLIC OF IRELAND
BASF Schweiz AG	100%	SWITZERLAND
BASF plc	100%	UK
BASF Antwerpen SA/NV	100%	BELGIUM
BASF Belgium Coordination Center - Business Belux GCV	100%	BELGIUM
BASF Coatings GmbH	100%	GERMANY
BASF Schwarzheide GmbH	100%	GERMANY
BASF (Thai) Limited	100%	THAILAND
BASF Polyurethanes UK Limited	100%	UK
Cognis Polska Sp zoo	100%	POLAND
Cognis Scandinavia AS	100%	NORWAY
BASF Catalysts Delaware LLC	100%	USA
BASF Catalysts Holding China LLC	96%	USA
BASF Catalysts Holding LLC	100%	USA
BASF Catalysts LLC	100%	USA
BASF Construction Chemicals LLC	100%	USA
BASF Corporation	100%	USA
BASF de Mexico S.A. de C.V.	100%	MEXICO
BASF Fina Petrochemicals LP	60%	USA
BASF Interservicios S.A. de C.V.	100%	MEXICO
BASF Canada Inc.	100%	CANADA
BASF Catalyst Canada ULC	100%	CANADA
Cognis SpA	100%	ITALY
Cognis UK Ltd	100%	ITALY
Macany SARL	100%	FRANCE
Mafernam SA	100%	SPAIN
Napro Pharma AS	100%	NORWAY
OOO Cognis Rus	100%	RUSSIA
BASF Polska Sp. z.o.o.	100%	POLAND
Cognis BV	100%	NETHERLANDS
Cognis France SAS	100%	FRANCE
Cognis Holdings UK Ltd	100%	UK
BASF Akquisitions GmbH	100%	GERMANY
Basf Performance Products Plc	100%	UK
BASF Performance Products France SA	100%	FRANCE
BASF Performance Products Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Performance Products Trading (Shanghai) Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Handels- und Exportgesellschaft mit beschränkter Haftung		Germany
BASF Immobilien-Gesellschaft mbH		Germany
BASF Akquisitions- und Objektverwertungsgesellschaft mbH		Germany
Gewerkschaft des konsolidierten Steinkohlenbergwerks Breitenbach GmbH		Germany
BASF Beteiligungsgesellschaft mbH		Germany
LUCARA Immobilienverwaltungs- Gesellschaft mit beschränkter Haftung		Germany
Zweite BASF Immobilien GmbH		Germany
BASF watertechnologies Beteiligungs GmbH		Germany
Ausbildungsplatzinitiative Pfalz GmbH		Germany
Ultraform Verwaltungsgesellschaft mbH		Germany
Projektentwicklungs-GmbH Friesenheimer Insel		Germany
BASF ChemTrade GmbH		Germany
BASF Chemikalien GmbH		Germany
BASF PharmaChemikalien GmbH & Co. KG		Germany
BASF Plant Science Company GmbH		Germany
BASF New Business GmbH		Germany
BASF Innovationsfonds GmbH		Germany
BASF Jobmarkt GmbH		Germany
Elfte BASF Projektentwicklungsgesellschaft mbH		Germany
BASF Venezolana S.A.		Venezuela
Cognis Australia Pty. Ltd.	100%	AUSTRALIA
Cognis Chemicals (China) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
Cognis Chemicals (HK) Co. Ltd.	100%	HONG KONG SAR
BASF Österreich GmbH	100%	AUSTRIA
BASF Hungária Vegyiáru és KiegészÃtõ Termék Berendezés- és Szolgáltatás Kereskedelmi Kft	100%	HUNGARY
BASF de Guatemala S.A.		GUATEMALA
BASF A/S	100%	DENMARK
BASF Española, S.L.	100%	SPAIN
BASF (Malaysia) Sdn Bhd	100%	MALAYSIA
BASF Oy	100%	FINLAND
Glasurit do Brasil Ltda.		BRAZIL
BASF FZE	100%	UNITED ARAB EMIRATES
BASF India Limited	50.1%	INDIA
Bayer CropScience Limited	51%	INDIA
Axaron Bioscience AG	99.97%	GERMANY
BASF Agro Trademarks GmbH	100%	GERMANY
BASF Bautechnik GmbH	100%	GERMANY
BASF Beteiligungsgesellschaft mbH	100%	GERMANY
BASF Catalysts Grundbesitz GmbH & Co. KG	100%	GERMANY
BASF Construction Chemicals GmbH	100%	GERMANY
BASF Construction Chemicals Grundbesitz GmbH	100%	GERMANY
BASF Construction Polymers GmbH	100%	GERMANY
BASF Grenzach GmbH	100%	GERMANY
BASF Handels- und Export GmbH	100%	GERMANY
BASF Immobilien Pigment GmbH	100%	GERMANY
BASF Isocyanate China Investment GmbH	100%	GERMANY
BASF IT Services Consult GmbH	100%	GERMANY
BASF IT Services GmbH	100%	GERMANY
Cognis Chemicals Trade (Shanghai) Co. Ltd.	100%	PEOPLE'S REPUBLIC OF CHINA
BTC Speciality Chemical Distribution GmbH	100%	GERMANY
BASF Venezuela, S.A.		VENEZUELA
Cognis Japan Ltd.	100%	JAPAN
Cognis Taiwan Ltd.	100%	TAIWAN
BASF Catalysts Germany GmbH	100%	GERMANY
BASF Uruguaya S.A.		URUGUAY
BASF de Costa Rica S.A.		COSTA RICA
BASF S.A.	99.99%	BRAZIL
PCI Augsburg GmbH	100%	GERMANY
BASF Lampertheim GmbH	100%	GERMANY
BASF Türk Kimya Sanayi Ltd Sti	100%	TURKEY
BASF Polyurethanes France SASU		FRANCE
BASF (China) Co Ltd	100%	PEOPLE'S REPUBLIC OF CHINA
BASF Australia Limited		AUSTRALIA
BASF Italia SpA		ITALY
BASF Personal Care and Nutrition GmbH	100%	GERMANY
Cognis Brasil Ltda	100%	BRAZIL
BASF Coatings SAS		FRANCE
BASF France SA	100%	FRANCE
BASF IT Services Holding GmbH	100%	GERMANY
BASF Leuna GmbH	100%	GERMANY
BASF Performance Polymers GmbH	100%	GERMANY
BASF PharmaChemikalien GmbH & Co. KG	100%	GERMANY
BASF Pigment GmbH	100%	GERMANY
BASF Plant Science Company GmbH	100%	GERMANY
BASF Plant Science GmbH	100%	GERMANY
BASF Polyurethane Licensing GmbH	100%	GERMANY
BASF Services Europe GmbH	100%	GERMANY
BASF Specialty Chemicals Marketing GmbH	100%	GERMANY
BASF Wall Systems GmbH & Co. KG	100%	GERMANY
BASF Wall Systems Verwaltungs-GmbH	100%	GERMANY
BPG Immobilien GmbH	100%	GERMANY
BPS FINANZBETEILIGUNGSGESELLSCHAFT MBH	100%	GERMANY
Construction Research & Technology GmbH	100%	GERMANY
Dr. Wolman GmbH	100%	GERMANY
GEWOGE Wohnungsunternehmen der BASF GmbH	97%	GERMANY
Guano-Werke GmbH & Co. KG	100%	GERMANY
LUWOGE GmbH	100%	GERMANY
Metanomics GmbH	100%	GERMANY
PolyAd Services GmbH	100%	GERMANY
Relius Coatings Beteiligungs-GmbH	100%	GERMANY
SunGene GmbH	100%	GERMANY
Untertage-Speicher-Gesellschaft mbH	100%	GERMANY
WINGAS GmbH & Co. KG	50%	GERMANY
WINGAS Holding GmbH	50%	GERMANY
WINGAS Transport GmbH & Co. KG	50%	GERMANY
Wintershall AG	51%	GERMANY
Wintershall Erdgas Beteiligungs-GmbH	100%	GERMANY
Wintershall Lenkoran GmbH	100%	GERMANY
Wintershall Libyen Oil & Gas GmbH	100%	GERMANY
Wintershall Norwegen Explorations- und Produktions- GmbH	100%	GERMANY
Wintershall Russia Holding GmbH	100%	GERMANY
Wintershall Vermögensverwaltungsgesellschaft mbH	100%	GERMANY
Allied Colloids Group plc	100%	UK
BASF Agri-Production S.A.S.	100%	FRANCE
BASF Agro B.V.	100%	NETHERLANDS
BASF Agro S.A.S.	100%	FRANCE
BASF Agrochemical Products B.V.	100%	NETHERLANDS
BASF AS	100%	NORWAY
BASF Catalysts Asia B.V.	100%	NETHERLANDS
BASF Catalysts Canada B.V.	100%	NETHERLANDS
BASF Catalysts Holding Asia B.V.	100%	NETHERLANDS
BASF Catalysts Investment Europe B.V.	100%	NETHERLANDS
BASF Catalysts Italia Srl	100%	ITALY
BASF Catalysts NL Finance C.V.	100%	NETHERLANDS
BASF Catalysts UK Holdings Limited	100%	UK
BASF Coatings Ltd.	100%	UK
BASF Coatings SpA	100%	ITALY
BASF Construction Chemicals Belgium N.V.	100%	BELGIUM
BASF Construction Chemicals España S.L.	100%	SPAIN
BASF Construction Chemicals Italia SpA	100%	ITALY
BASF Construction Chemicals (UK) Ltd.	100%	UK
BASF Coordination Center Comm.V.	100%	BELGIUM
BASF Engelhard Finland B.V.	100%	NETHERLANDS
BASF Engelhard Germany B.V.	100%	NETHERLANDS
BASF Engelhard Italy B.V.	100%	NETHERLANDS
BASF Engelhard South Africa B.V.	100%	NETHERLANDS
BASF Engelhard Sweden B.V.	100%	NETHERLANDS
BASF Engelhard Switzerland B.V.	100%	NETHERLANDS
BASF Engelhard UK B.V.	100%	NETHERLANDS
BASF Finance Europe N.V.	100%	NETHERLANDS
BASF Hellas S.A.	100%	GREECE
BASF Interservice Srl	100%	ITALY
BASF Intertrade AG	100%	SWITZERLAND
BASF Kaisten AG	100%	SWITZERLAND
BASF Malta Ltd.	100%	MALTA
BASF Malta Trading Ltd.	100%	MALTA
BASF Minerals Oy	100%	FINLAND
BASF Monthey S.A.	100%	SWITZERLAND
BASF Operations B.V.	100%	NETHERLANDS
BASF Performance Products GmbH	100%	AUSTRIA
BASF Schweizerhalle AG	100%	SWITZERLAND
BASF Slovensko spol s.r.o.	100%	SLOVAKIA
BASF Sonatrach PropanChem S.A.	51%	SPAIN
BASF spol s.r.o.	100%	CZECH REPUBLIC
BASF Stavebni hmoty Ceská republika s.r.o.	100%	CZECH REPUBLIC
BASF Taiwan B.V.	100%	NETHERLANDS
BASF UK Holdings Ltd.	100%	UK
Ciba Holding Nederland B.V.	100%	NETHERLANDS
Ciba Services AG	100%	SWITZERLAND
Ciba UK Investment plc	100%	UK
CropDesign N.V.	100%	BELGIUM
Cognis Chile Ltda	100%	CHILE
Cognis Corporation	100%	USA
Cognis Mexicana SA de CV	100%	MEXICO
BASF Gao-Qiao Performance Chemicals (Shanghai) Co. Ltd.	75%	PEOPLE'S REPUBLIC OF CHINA
Relius Coatings GmbH & Co KG	100%	GERMANY
Engelhard Industrial Metals LLC	100%	RUSSIA
Engelhard International Ltd.	100%	UK
Engelhard Metals GmbH	100%	SWITZERLAND
Engelhard Metals Ltd.	100%	UK
Engelhard Sales Ltd.	100%	UK
Low Moor Securities Ltd.	100%	UK
OOO BASF Stroitelnye Sistemy	100%	RUSSIA
OOO BASF Wostok	100%	RUSSIA
PCI Bauprodukte AG	100%	SWITZERLAND
Relius France S.A.S.	100%	FRANCE
Relius Nederland B.V.	100%	NETHERLANDS
Société Foncière et Industrielle S.A.S.	93%	FRANCE
Sorex Holdings Ltd.	100%	UK
Sorex Ltd.	100%	UK
Wintershall (E&P) Ltd.	100%	UK
Wintershall Nederland B.V.	100%	NETHERLANDS
Wintershall Noordzee B.V.	100%	NETHERLANDS
Wintershall Petroleum (E & P) B.V.	100%	NETHERLANDS
Wintershall (UK North Sea) Ltd.	100%	UK
ZAO BASF	100%	RUSSIA
BASF Americas Corporation	100%	USA

Key Corporate Relationships

Auditor:	KPMG AG
Bank:	Landeszentralbank
Auditor:	KPMG AG, KPMG AG

BASF SE

The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. More about Strategic Initiatives

Strategic Initiatives

Partnerships

In the Asia Pacific region, the markets for PolyTHF continue to grow, and so do our customers. We are taking these measures to support our partners in their growth and accompany them as a reliable local manufacturer and supplier in the future too.�Jun 04, 2013BASF To Invest €10 Billion In Asia-Pacific RegionBASF SE is implementing its global 'We create chemistry' strategy in Asia-Pacific with a set of ambitious targets and a focus on sustainability. To achieve sales of €25 billion to customers in the region by 2020, BASF's Asia-Pacific strategy 'grow smartly' outlines investments of €10 billion, around 9,000 new jobs, and annual savings of €1 billion.Around 25% of BASF's global R&D will be conducted in Asia-Pacific by 2020, to develop innovative solutions that address the region's challenges of resource efficiency, food and nutrition, and quality of life. Dr Martin Brudermuller, vice chairman of the board of executive directors of BASF, responsible for Asia-Pacific, said, "In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry. With our Asia Pacific strategy, we are positioning BASF as the leading provider of sustainable solutions for the Asia Pacific region.

Our measures will enable us to continue meeting this demand reliably out of our local assets in Geismar. In the Asia Pacific region, the markets for PolyTHF continue to grow, and so do our customers. We are taking these measures to support our partners in their growth and accompany them as a reliable local manufacturer and supplier in the future too.�Jun 04, 2013BASF To Invest €10 Billion In Asia-Pacific RegionBASF SE is implementing its global 'We create chemistry' strategy in Asia-Pacific with a set of ambitious targets and a focus on sustainability. To achieve sales of €25 billion to customers in the region by 2020, BASF's Asia-Pacific strategy 'grow smartly' outlines investments of €10 billion, around 9,000 new jobs, and annual savings of €1 billion.Around 25% of BASF's global R&D will be conducted in Asia-Pacific by 2020, to develop innovative solutions that address the region's challenges of resource efficiency, food and nutrition, and quality of life. Dr Martin Brudermuller, vice chairman of the board of executive directors of BASF, responsible for Asia-Pacific, said, "In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry.

By 2020, BASF aims for local production of approximately 75% of the products it sells in the Asia-Pacific region in order to intensify its collaboration with and strengthen its supply position to customers in Asia-Pacific. At the same time, local production improves resource efficiency by reducing the transportation needed for imports and exports, and by enhancing energy and raw material efficiency through highly-integrated production systems close to customers. To achieve this, BASF plans to invest €10 billion together with its partners by 2020 to further develop its local production footprint in Asia-Pacific. BASF currently operates more than 100 production sites in the Asia-Pacific region, including two highly-integrated 'Verbund' sites, located in Kuantan, Malaysia, and Nanjing, China. BASF will invest in a range of efficiency measures that will save approximately €1 billion annually by 2020.

The company will provide solutions for the needs of the emerging middle class forming the 'base of the pyramid' through solutions for affordable mass housing, food fortification, wind energy, and water purification. Additionally, BASF will explore untapped markets in Mongolia, Laos, Myanmar, and Cambodia. By 2020, BASF aims for local production of approximately 75% of the products it sells in the Asia-Pacific region in order to intensify its collaboration with and strengthen its supply position to customers in Asia-Pacific. At the same time, local production improves resource efficiency by reducing the transportation needed for imports and exports, and by enhancing energy and raw material efficiency through highly-integrated production systems close to customers. To achieve this, BASF plans to invest €10 billion together with its partners by 2020 to further develop its local production footprint in Asia-Pacific.

Planning

Please note that the findings, conclusions and recommendations that GlobalData delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such GlobalData can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect. Jul 29, 2013BASF plans to build new polymer plant in ChinaBASF is planning to build a new Ultramid polymerization plant in Shanghai Chemical Industry Park, China as part of its long-term strategy to serve its customers in the Asia-Pacific region.The new plant, which is scheduled for start up in 2015, will have a production capacity of 100,000 metric tons per year. The chemical park also houses various production plants, including facilities that produce integrated isocyanates, polytetrahydrofuran (PolyTHF®) and polyisocyanate (Basonat). BASF Global Polyamide and Intermediates Business Unit senior vice-president Hermann Althoff said, "The demand for polyamide products in the engineering plastics, fiber and film industries will grow strongly, particularly in China."

BASF Global Polyamide and Intermediates Business Unit senior vice-president Hermann Althoff said, "The demand for polyamide products in the engineering plastics, fiber and film industries will grow strongly, particularly in China." "The investment enables us to participate in this growth and supply our Asian customers with locally manufactured high performance products," Althoff added. BASF President and Chairman Greater China and Functions Asia Pacific Albert Heuser said, "As part of our long-term strategy, we aim to locate production close to our customers in the Asia Pacific region, so that we can better support their growth, operate more efficiently and collaborate more closely." "BASF intends to grow two percentage points above the market in Asia Pacific and maintain our commitment to environmental protection as well as ensuring a positive contribution to society for a sustainable future," Heuser added.Jul 25, 2013BASF Reports Revenue Of €18.3 Billion In Q2 2013BASF SE reported revenue of €18.3 billion for the second quarter of 2013, compared with the revenue of €17.8 billion in the year-ago quarter. It also reported a net income of €1.1 billion, or €1.26 per share, for the second quarter of 2013, compared with the net income of €1.2 billion, or €1.32 per share, in the year-ago quarter.BASF increased sales by 3% in the second quarter of 2013 to just under €18.4 billion thanks to higher sales volumes in all segments.

These legal actions, regardless of the outcome, could drain the company’s financial resources and divert the time and effort of its management. Additionally, some environmental, health and safety laws might arise retroactively, affecting the company on the basis of its past operations. The company's involvement in such claims not only black-lists its reputation, but also result in additional costs and valuable time for the company in defending them.strategic initiativesBASF strengthens its existing businesses with strategic initiatives. In April 2012, the company invested nearly €150 million in new production site for polymer dispersions, polyurethanes, and care chemicals. Through this new production site, the company aims to ensure local supply for growing markets and industries such as appliances, construction, adhesives, architectural coatings, footwear, automotive, paper and personal care.

Product

The company's diversified business operations enables it to serve the varying needs of its customer across the world. BASF operates in all the major geographies such as Europe, North America, South America, Africa and Asia-Pacific. Its global presence led the company to cater to broader markets and reduce the risks associated with adverse economic and political developments in any particular region. However, increasing competitive risks could be detrimental to its operations, if the company fails to evaluate them properly.Strong Research and Development ActivitiesResearch and Development (R&D) is one of the key foundations of BASF’s strategy. For the fiscal year ended 2012, the company spent €1,605m on its R&D activities.

BASF operates in all the major geographies such as Europe, North America, South America, Africa and Asia-Pacific. Its global presence led the company to cater to broader markets and reduce the risks associated with adverse economic and political developments in any particular region. However, increasing competitive risks could be detrimental to its operations, if the company fails to evaluate them properly.Strong Research and Development ActivitiesResearch and Development (R&D) is one of the key foundations of BASF’s strategy. For the fiscal year ended 2012, the company spent €1,605m on its R&D activities. In 2011, the company spent 8.3% of its total R&D expenses on chemicals, 9% on plastics, 19.7% on performance products, 14% on functional solutions, 24.6% on agricultural solutions, 1.8% on oil and gas and 22.5% on other research activities.

Sales and Distribution

In March 2012, the company entered into a licensing agreement with LiFePO4+C Licensing AG for the global production and sale of lithium iron phosphate (LFP) battery materials technology. It also acquired PET foam business from Italy-based B.C. Foam S.p.A. In February 2012, the company acquired Ovonic Battery Company, a wholly owned subsidiary of Energy Conversion Devices Inc. In January 2012, BASF signed a three year agreement with Teck Resources Limited for the development of zinc fortification and supplementation solutions. Such acquisitions and partnerships enhance the company’s expansion strategy through which it can enhance its revenue.Asia Pacific Strategy 2020BASF aims to increase and strengthen its presence in Chemicals market in the emerging economies of Asia. By 2020, it aims to double its sales to €20m in the Asia-Pacific region. The company plans to exceed the annual growth of 4% - 5% in the chemical market by two percentage points in both Asia and China.

Sales rose significantly in the agricultural solutions segment. The good start to the season in Europe and North America largely contributed to this. In addition to sharply increased sales volumes, sales growth was also boosted by higher prices as well as the acquisition of Becker Underwood. Earnings significantly increased due to higher volumes. Despite lower crude oil prices, sales grew considerably in the Oil & Gas segment.

Based on our strong global R&D network, we will considerably strengthen our innovation capabilities in Asia Pacific, enabling us to better serve our customers in all industries in the region." BASF estimates the cumulative annual growth rate (CAGR) for real chemical production through 2020 for Asia-Pacific at 6.2%, well above the world average of 4%. According to its strategy, BASF intends to grow profitably at least 2% points above regional chemical production to achieve sales of €25 billion in Asia-Pacific by 2020. BASF will collaborate with customers in focus markets to provide solutions for applications such as low-carbon construction, advanced pharmaceutical production, environmentally-friendly coatings, more sustainable packaging, energy-efficient vehicles, renewable energy, and solutions for less resource-intensive agriculture. BASF will conduct around one quarter of its global research activities from Asia-Pacific.

EBIT before special items decreased by €259 million to €1.1 billion, particularly due to a lower contribution from the Chemicals segment. In North America, sales by location of company increased by 9% in U.S. dollars and 7% in euro terms. Sales rose significantly in the Agricultural Solutions segment, driven primarily by considerably higher sales volumes and the acquisition of Becker Underwood. Earnings grew by €158 million to €485 million. Sales in Asia Pacific grew by 1% in local-currency terms and decreased by 2% in euro terms.

EBIT before special items rose by €71 million to €485 million. Sales volumes in all regions and indications rose. Furthermore, higher prices and the acquisition of Becker Underwood also contributed to this sales and earnings growth. In the Oil & Gas segment, sales grew by 10% despite lower oil prices. This was mostly a result of increased volumes in natural gas trading.

To achieve sales of €25 billion to customers in the region by 2020, BASF's Asia-Pacific strategy 'grow smartly' outlines investments of €10 billion, around 9,000 new jobs, and annual savings of €1 billion.Around 25% of BASF's global R&D will be conducted in Asia-Pacific by 2020, to develop innovative solutions that address the region's challenges of resource efficiency, food and nutrition, and quality of life. Dr Martin Brudermuller, vice chairman of the board of executive directors of BASF, responsible for Asia-Pacific, said, "In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry. With our Asia Pacific strategy, we are positioning BASF as the leading provider of sustainable solutions for the Asia Pacific region. Based on our strong global R&D network, we will considerably strengthen our innovation capabilities in Asia Pacific, enabling us to better serve our customers in all industries in the region." BASF estimates the cumulative annual growth rate (CAGR) for real chemical production through 2020 for Asia-Pacific at 6.2%, well above the world average of 4%.

This was mainly the result of weaker margins for caprolactam and polyamides. In the Performance Products segment, sales were down by 1% on account of negative currency effects and lower sales prices resulting from reduced raw material costs. Increased volumes in Care Chemicals as well as portfolio effects from the acquisition of Pronova BioPharma in the Nutrition & Health division had a positive impact on sales. Intense competition in some product lines and the depreciation of the yen against the euro led to a decrease in EBIT before special items of €48 million to €394 million. In the second quarter of 2012, insurance payments for damage sustained from the earthquake and tsunami disaster in Japan had contributed positively to earnings.

Such acquisitions and partnerships enhance the company’s expansion strategy through which it can enhance its revenue.Asia Pacific Strategy 2020BASF aims to increase and strengthen its presence in Chemicals market in the emerging economies of Asia. By 2020, it aims to double its sales to €20m in the Asia-Pacific region. The company plans to exceed the annual growth of 4% - 5% in the chemical market by two percentage points in both Asia and China. Global changes, such as energy demand, population growth and urbanization are opening opportunities for new markets. It also intends to reorganize its business in the Japanese markets.

It also intends to reorganize its business in the Japanese markets. Through local production and investment in Asia, it aims to generate 70% of sales in Asia Pacific region. The company plans to invest €2 billion for 2010-2014, which includes the expansion of Nanjing Verbund site for the Chinese market and investment in new world-scale MDI plant in Chongqing, China.Competitive PressuresIncreased competition may lead the company to reduce prices, which could affect its margins. The company operates in a progressively more complex, highly competitive and challenging chemical marketplace whose dynamics are ever-changing. Technological advances by any player in the market could render its present or future products obsolete or uneconomical.

BASF SE

Strengths/Weaknesses (SWOT)

	Helpful to achieving the objective	Harmful to achieving the objective
Internal Origin (attributes of the organization)	Strengths · Strong Research and Development Activities · Diversified Business Operations · Strong Foothold in the Chemical Industry	Weaknesses · Declining Profitability Ratios · Pending Litigations
External Origin (attributes of the environment)	Opportunities · Strategic Initiatives · Strategic Acquisition and Agreements · Asia Pacific Strategy 2020	Threats · Competitive Pressures · Differential Feedstock Costs · Challenge of Environmental Regulations

Overview

BASF SE (BASF) is one of the leading chemical companies in the world. The company carries out its operations through six business segments, namely, Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural Solutions, and Oil and Gas. The company's diversified business operations enables it to serve the varying needs of its customer across the world. BASF operates in all the major geographies such as Europe, North America, South America, Africa and Asia-Pacific. Its global presence led the company to cater to broader markets and reduce the risks associated with adverse economic and political developments in any particular region. However, increasing competitive risks could be detrimental to its operations, if the company fails to evaluate them properly.

Strengths

Strong Research and Development Activities

Research and Development (R&D) is one of the key foundations of BASF’s strategy. For the fiscal year ended 2012, the company spent €1,605m on its R&D activities. In 2011, the company spent 8.3% of its total R&D expenses on chemicals, 9% on plastics, 19.7% on performance products, 14% on functional solutions, 24.6% on agricultural solutions, 1.8% on oil and gas and 22.5% on other research activities. The company’s major research sites are present in Europe (Ludwigshafen, Basel, Munster, Trostberg, Lemforde), North America (Research Triangle Park, Iselin, Wyandotte, Tarrytown), Asia Pacific (Shanghai, Singapore, Chandivali) and South America, Africa, Middle East (Guaratingueta). The company’s knowledge and competence centers include four central technology platforms such as polymer research, specialty chemicals research, chemicals research and engineering, and plant biotechnology research. In 2012, the company’s project portfolio comprises of 3,000 projects in 70 locations around the world. BASF aims for sales of up to €30 billion from product innovations in 2020. In 2011, the company filed for approximately 1170 new patents worldwide. Strong R&D helps BASF bring new solutions to a wide variety of markets and maintain its competitive edge.

Diversified Business Operations

The company operates diversified businesses across various geographic markets. It operates six business segments, namely, Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural solutions, and Oil and Gas. For the fiscal year ended 2012, the segments contributed 18% (chemicals), 14% (plastics), 20% (performance products), 15% (functional solutions), 6% (agricultural solutions), 21% (oil and gas) and 6% (others) of the company’s total revenue. Geographically, the company operates in six regions, namely, Europe, North America, Asia-Pacific and South America, Africa, Middle East. For the fiscal year ended 2012, Europe accounted for 54.5% of the company's total revenue, followed by North America with 18.4%, Asia Pacific with 19% and South America, Africa, Middle East 8.2% revenue. Diversification helps the company to increase its position in the market and maintain its revenues by adjusting losses from one business segment with profits in other business segment. Business and geographic diversification will enable BASF to generate noteworthy revenue maintaining its market positions intact.

Strong Foothold in the Chemical Industry

BASF is the one of the world’s leading chemical companies with presence in nearly all the countries. It is one of the largest operating companies with 308 companies, 22 joint ventures and 14 additional companies included using the equity method. It holds approximately six verbund sites and 380 production sites worldwide. The company’s subsidiaries are located in more than 80 countries. The six reportable business segments comprise 15 divisions which manage the company’s 70 global and regional business units. Its product portfolio ranges from chemicals, glues and electronic chemicals for flat panel display and the semiconductor industry, to solvents and plasticizers, and materials for detergents, paints, plastics, textile fibers, coatings and pharmaceuticals. Its products cater to various industries including chemical, electronics, construction, textile, automotive, pharmaceutical and agriculture. The company operates the world’s largest integrated chemical site in Ludwigshafen. With such a leadership in its areas of operations, the company is well placed for the future.

Weaknesses

Declining Profitability Ratios

BASF reported weak profit margins for the fiscal year ended 2012, reflecting its inability to fulfill operational and business expansion needs. Though the company reported increased operating profit of €8976m, for the fiscal year ended December 2012, its net profit decreased to €4879m for the fiscal year ended December 2012, indicating a decrease of 21.1% over net profit in 2011. The decrease in the net profit affected the company’s profitability. The operating margin of the company decreased to 11.4% in 2012 from 11.6% in 2011. The company’s return on equity decreased to 19.8% in 2012 from 25.6% in 2011. Its return on assets and return on fixed assets decreased to 7.5% and 25.2% in 2012, respectively from 10.1% and 25.2% in 2011. The company’s return on capital employed decreased to 19.1% in 2012 from 19.2% in 2011. Declining profitability ratios indicate that the company has been underperforming and is not able to deliver the value as expected by its shareholders.

Pending Litigations

BASF’s involvement in legal proceedings, regardless of the outcome, could drain its financial resources. A total of 35 class action lawsuits, among others were filed against the company in US courts since 2005. The company has been charged with allegations of violated antitrust laws on price fixing for the sales of TDI, MDI and polyether polyols. The class certification for the class action law suits has been granted and the discovery process is currently ongoing. Two plaintiffs are also pursuing their claim outside of the class action process in parallel suits against the company. In September 2011, the company settled the class action lawsuits with the payment of $51m. The company and its affiliates are also defendants in various judicial and arbitrational proceedings. These legal actions, regardless of the outcome, could drain the company’s financial resources and divert the time and effort of its management. Additionally, some environmental, health and safety laws might arise retroactively, affecting the company on the basis of its past operations. The company's involvement in such claims not only black-lists its reputation, but also result in additional costs and valuable time for the company in defending them.

Opportunities

Strategic Initiatives

BASF strengthens its existing businesses with strategic initiatives. In April 2012, the company invested nearly €150 million in new production site for polymer dispersions, polyurethanes, and care chemicals. Through this new production site, the company aims to ensure local supply for growing markets and industries such as appliances, construction, adhesives, architectural coatings, footwear, automotive, paper and personal care. In March 2012, the company and Petronas entered into agreement for the development of new project in Pengerang, Malaysia. Through this agreement, the partners plan to establish a new entity to jointly own, develop, construct and operate production facilities for isononanol, highly reactive polyisobutylene, non-ionic surfactants, methanesulfonic acid, and plants for precursor materials. In February 2012, the company established white biotechnology research lab in the U.S. During the same month, the company established a new world-scale production plant with a annual capacity of 60,000 metric tons per year for sodium methylate in Guaratingueta, Brazil. This plant will strengthen the company's competitive position in the fast-growing market for biodiesel in South America. In December 2011, the company opened a new office in Nairobi, Kenya, to serve its customers in East Africa and Sub-Sahara. Such initiatives could help the company to further strengthen its business.

Strategic Acquisition and Agreements

Strategic acquisitions and partnerships help the company in increasing its production capabilities and capturing new markets. In June 2013, the company acquired Deutsche Nanoschicht GmbH. Deutsche Nanoschicht produces thin films by means of chemical solution deposition. The acquisition will help in developing its E-Power Management growth field. In the same month, the company granted license to Richard Alan Engineering to manufacture and market polymer make-up and dosing equipment exclusive for water treatment applications. In April 2013, the company and Atlas Copco entered into an agreement to cooperate on sprayed concrete technology and expertise for tunneling and mining. The agreement is followed by the sale of BASF’s MEYCO Equipment business to Atlas Copco.In March 2013, the acompany acquired parts of Ciech’s TDI (toluene diisocyanate) business. In the same month, the company signed a three-year agreement with Shell to supply fluid catalytic cracking (FCC) catalysts to Shell. In February 2013, the company signed an agreement with Bend Research Inc. to jointly evaluate and develop novel excipients to enhance the solubility and bioavailability of poorly soluble drugs. In January 2013, the company and Zelfo Technology signed an agreement for the transfer of IP rights of the latest Zelfo processing technology for the efficient and cost-effective production of micro-fibrillated cellulose. In October 2012, the company entered into strategic alliance with TenCate Advanced Composites for the development, production, and commercialization of thermoplastic composite materials suitable for high-volume vehicle production. In the same month, the company and Euroresins Europe Holding GmbH & Co. KG entered into agreement to jointly sale Baxxodur epoxy systems for composite materials in Europe. In August 2012, the company entered into cooperation agreement with Cooperative Research Centre for Polymers to develop a new range of advanced polymers that will help farmers better manage water and nutrients in the soil. In April 2012, the company acquired Novolyte Technologies, a manufacturer of electrolyte formulations for lithium-ion batteries. The acquisition helps the company to strengthen its footprint and technology position in the North American market. In March 2012, the company entered into a licensing agreement with LiFePO4+C Licensing AG for the global production and sale of lithium iron phosphate (LFP) battery materials technology. It also acquired PET foam business from Italy-based B.C. Foam S.p.A. In February 2012, the company acquired Ovonic Battery Company, a wholly owned subsidiary of Energy Conversion Devices Inc. In January 2012, BASF signed a three year agreement with Teck Resources Limited for the development of zinc fortification and supplementation solutions. Such acquisitions and partnerships enhance the company’s expansion strategy through which it can enhance its revenue.

Asia Pacific Strategy 2020

BASF aims to increase and strengthen its presence in Chemicals market in the emerging economies of Asia. By 2020, it aims to double its sales to €20m in the Asia-Pacific region. The company plans to exceed the annual growth of 4% - 5% in the chemical market by two percentage points in both Asia and China. Global changes, such as energy demand, population growth and urbanization are opening opportunities for new markets. It also intends to reorganize its business in the Japanese markets. Through local production and investment in Asia, it aims to generate 70% of sales in Asia Pacific region. The company plans to invest €2 billion for 2010-2014, which includes the expansion of Nanjing Verbund site for the Chinese market and investment in new world-scale MDI plant in Chongqing, China.

Threats

Competitive Pressures

Increased competition may lead the company to reduce prices, which could affect its margins. The company operates in a progressively more complex, highly competitive and challenging chemical marketplace whose dynamics are ever-changing. Technological advances by any player in the market could render its present or future products obsolete or uneconomical. The existing market includes companies of varying sizes; some of them more specialized than the company in particular commodities, and some with greater financial resources than the company. Its key competitors include The Dow Chemical Company, Huntsman Corporation, Clariant Chemicals (India) Limited and Bayer AG. The company competes in this evolving marketplace on the basis of many factors including price, quality, innovation, service, reputation, distribution and promotion.

Differential Feedstock Costs

Competition with the low cost petrochemicals of the Middle East could affect the company’s performance. In the past decade, a major differential has opened up in the prices of ethane and naphtha globally. The growth of the Middle East petrochemical industry brought more petrochemicals based on ethane feedstock in the market. Due to the region’s vast gas resources, ethane is supplied at a price of less than a dollar/million BTU to the region’s producers. On the contrary, the US gas producers have to shell out a price in the range of $3-5/million BTU. Moreover, the Asian and European producers use naphtha as the key feedstock, whose prices fluctuate with that of the crude oil. This gave the Middle East producers a huge competitive advantage over producers from other regions. The European and North American producers are the most affected, as they find it increasingly difficult to compete with low cost petrochemicals from the Middle East.

Challenge of Environmental Regulations

BASF could be affected by the environmental regulations governing the global chemical industry. REACH (Registration Evaluation and Authorization of Chemicals), in Europe, is an example of the stringent environmental regulations that impact chemical producers. REACH regulates the products manufactured and marketed in Europe. Phased over a period of 11 years, the regulation mandates all companies to develop and submit dossiers containing datasets about their chemical products and detail their potential impact and risk on environment. This could be a challenge while launching new products as the process is time-consuming and expensive. It may also result in phasing out many existing chemicals from the market, which are regarded as toxic and hazardous. REACH directly applies to over 30,000 different chemical substances that are produced or sold in Europe and its implementation is expected to cost European chemical industry about $3 billion. Other countries too are expected to model their regulations on the principles of REACH. The US has already begun implementing similar regulations with the reform of Toxic Substances Control Act. China has its own version: RoHS (Restriction of Hazardous Substances), which restricts the use of certain chemicals in the market. Such stringent environmental regulations are set to tighten in the coming years, affecting both existing and new products for the company.

Corporate Family	Corporate Structure News:
	BASF SE
BASF SE Total Corporate Family Members: 761 Excluded Small Branches and/or Trading Addresses: 20 (Available via export)

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
BASF SE	Parent	Ludwigshafen Am Rhein	Germany	Miscellaneous Chemical Manufacturing	101,163.3	111,614
BASF Electronic Materials Gmbh	Subsidiary	Ludwigshafen	Germany	Semiconductor and Other Electronic Component Manufacturing		30,000
BASF Coatings AG	Division	Munster	Germany	Holding Companies		18,000
BASF Argentina S.A.	Subsidiary	Tortuguitas	Argentina	Paint, Coating, and Adhesive Manufacturing		2,000
Basf Coatings Sa.	Subsidiary	Guadalajara	Spain	Paint, Coating, and Adhesive Manufacturing	261.1	608
Basf Coatings Services Sa	Subsidiary	Badalona, Barcelona	Spain	Chemical Wholesale	20.0	58
BASF Coatings de México, S.A. de C.V.	Subsidiary	Tultitlán, Estado de México	Mexico	Paint, Coating, and Adhesive Manufacturing		375
BASF Coating Services (Pty) Ltd.	Subsidiary	Cape Town	South Africa	Miscellaneous Chemical Manufacturing		340
BASF S.A.	Subsidiary	Jaboatao	Brazil	Paint, Coating, and Adhesive Manufacturing		250
BASF Coatings, Inc.	Subsidiary	Manila, Taguig	Philippines	Paint, Coating, and Adhesive Manufacturing		210
Basf Coatings Ltd.	Subsidiary	Deeside	United Kingdom	Rubber and Plastic Product Manufacturing	100.6	114
Basf Coatings (India) Private Limited	Subsidiary	Pune, Maharashtra	India	Nonclassifiable Establishments
BASF Coatings SpA	Subsidiary	Cesano Maderno, MB	Italy	Synthetic Chemical Manufacturing	91.0	108
BASF Coatings Refinish GmbH	Subsidiary	Eugendorf	Austria	Paint, Coating, and Adhesive Manufacturing		80
BASF Coatings Services GmbH	Subsidiary	Eugendorf	Austria	Paint, Coating, and Adhesive Manufacturing	38.5	70
BASF Coatings Boya Sanayi ve Ticaret A.S.	Subsidiary	Istanbul	Turkey	Miscellaneous Wholesale		60
BASF Coatings Services AB	Subsidiary	Gothenburg	Sweden	Miscellaneous Wholesale	50.1	53
BASF Coatings Services s.r.o.	Subsidiary	Bratislava	Slovakia	Miscellaneous Chemical Manufacturing		40
BASF Coatings (Pty) Ltd.	Subsidiary	Vanderbijlpark	South Africa	Miscellaneous Chemical Manufacturing		28
BASF Coatings Australia Pty. Ltd.	Subsidiary	Castle Hill, NSW	Australia	Paint, Coating, and Adhesive Manufacturing	4.1	25
BASF Coatings, storitve za avtomobilske premaze, d.o.o.	Subsidiary	Ljubljana	Slovenia	Paint, Coating, and Adhesive Manufacturing		25
BASF Coatings Services S.R.L.	Subsidiary	Arges	Romania	Miscellaneous Wholesale		18
BASF Coatings Holding B.V.	Subsidiary	Maarssen	Netherlands	Holding Companies		2
BASF Coatings Services Sp. z o.o.	Subsidiary	Kobylnica	Poland	Paint, Coating, and Adhesive Manufacturing
BASF Coatings de Mexico S.A. de C.V.	Subsidiary	Sonora	Mexico	Miscellaneous Chemical Manufacturing
BASF Coatings India Private Ltd.	Subsidiary	Navi Mumbai	India	Miscellaneous Chemical Manufacturing
BASF Coatings Private Ltd.	Subsidiary	Mumbai	India	Paint, Coating, and Adhesive Manufacturing
BASF Coatings Services AG	Subsidiary	Wadenswil	Switzerland	Miscellaneous Chemical Manufacturing
BASF Coatings Services S.A.	Subsidiary	Seville	Spain	Miscellaneous Wholesale
BASF Corporation	Subsidiary	Florham Park, NJ	United States	Holding Companies	73,497.0	16,917
BASF Corp. - Geismar Plant	Facility	Geismar, LA	United States	Miscellaneous Chemical Manufacturing		1,400
BASF Corp. - Freeport Plant	Facility	Freeport, TX	United States	Miscellaneous Chemical Manufacturing	1,366.5	1,100
BASF-Chemical Co	Branch	Geismar, LA	United States	Miscellaneous Chemical Manufacturing	3,166.3	1,000
BASF Corp. - Wyandotte Plant	Facility	Wyandotte, MI	United States	Rubber and Plastic Product Manufacturing		1,000
BASF Agricultural Products Grp	Subsidiary	Resrch Trngle Pk, NC	United States	Crop and Animal Production		650
BASF Plant Science	Branch	Sycamore, IL	United States	Market Research and Opinion Polling		20
BASF-Chemical Co	Branch	Huntsville, AL	United States	Miscellaneous Chemical Manufacturing	72.6	525
BASF Corp. - Charlotte (Steele Creek) Technical Center	Unit	Charlotte, NC	United States	Chemical Wholesale		270
BASF Corp. - Superabsorbents North America	Unit	Charlotte, NC	United States	Chemical Wholesale		210
BASF Dispersions & Pigments	Branch	Chattanooga, TN	United States	Miscellaneous Chemical Manufacturing	113.1	130
BASF Dispersions & Pigments	Branch	North Charleston, SC	United States	Miscellaneous Chemical Manufacturing	103.8	117
BASF Dispersions & Pigments	Branch	Chattanooga, TN	United States	Miscellaneous Chemical Manufacturing	101.8	117
BASF Dispersions & Pigments	Branch	Medway, MA	United States	Miscellaneous Chemical Manufacturing	79.9	117
BASF Dispersions & Pigments	Branch	Sparta, TN	United States	Miscellaneous Chemical Manufacturing	100.0	115
BASF Corp. - Newport Plant	Facility	Newport, DE	United States	Chemical Wholesale	421.0	250
BASF-Chemical Co	Branch	Suffolk, VA	United States	Miscellaneous Chemical Manufacturing	135.0	250
BASF Mexicana, S.A. de C.V.	Subsidiary	México, D.F.	Mexico	Basic Chemical Manufacturing		250
BASF-Chemical Co	Branch	Elyria, OH	United States	Miscellaneous Chemical Manufacturing	155.7	175
BASF Corp. - Tarrytown Research Facility	Unit	Tarrytown, NY	United States	Basic Chemical Manufacturing	1,141.0	150
BASF Canada Inc.	Subsidiary	Mississauga, ON	Canada	Miscellaneous Chemical Manufacturing	182.8	150
BASF-Chemical Co	Branch	Whitehouse, OH	United States	Miscellaneous Chemical Manufacturing	124.6	140
BASF Corp. - West Memphis Plant	Facility	West Memphis, AR	United States	Miscellaneous Chemical Manufacturing	188.1	135
BASF Corp. - Evans City Plant	Facility	Evans City, PA	United States	Basic Chemical Manufacturing		133
BASF-Chemical Co	Branch	Louisville, KY	United States	Miscellaneous Chemical Manufacturing	143.3	130
BASF Corp. - Ambler - Care Chemicals	Facility	Ambler, PA	United States	Miscellaneous Chemical Manufacturing		125
BASF-Chemical Co	Branch	Prairieville, LA	United States	Miscellaneous Chemical Manufacturing	370.5	117
BASF-Chemical Co	Branch	Shreveport, LA	United States	Miscellaneous Chemical Manufacturing	370.5	117
BASF-Chemical Co	Branch	Port Arthur, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Channelview, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	La Porte, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Spicewood, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Seabrook, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Houston, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Clute, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Bishop, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Pasadena, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Pasadena, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF-Chemical Co	Branch	Ames, IA	United States	Miscellaneous Chemical Manufacturing	117.1	117
BASF-Chemical Co	Branch	Garden City, KS	United States	Miscellaneous Chemical Manufacturing	115.6	117
BASF-Chemical Co	Branch	Huntington, WV	United States	Miscellaneous Chemical Manufacturing	111.9	117
BASF-Chemical Co	Branch	Matthews, NC	United States	Miscellaneous Chemical Manufacturing	108.8	117
BASF-Chemical Co	Branch	Charlotte, NC	United States	Miscellaneous Chemical Manufacturing	108.8	117
BASF-Chemical Co	Branch	Troy, MI	United States	Miscellaneous Chemical Manufacturing	107.8	117
BASF-Chemical Co	Branch	Troy, MI	United States	Miscellaneous Chemical Manufacturing	107.8	117
BASF-Chemical Co	Branch	Riverview, MI	United States	Miscellaneous Chemical Manufacturing	107.8	117
BASF-Chemical Co	Branch	Howell, MI	United States	Miscellaneous Chemical Manufacturing	107.8	117
BASF-Chemical Co	Branch	Homer, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Batavia, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Springfield, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Altamont, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Salem, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Chicago, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Elmhurst, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Effingham, IL	United States	Miscellaneous Chemical Manufacturing	103.9	117
BASF-Chemical Co	Branch	Fountain Inn, SC	United States	Miscellaneous Chemical Manufacturing	103.8	117
BASF Corp. - White Stone Plant	Facility	Spartanburg, SC	United States	Miscellaneous Chemical Manufacturing	103.8	117
BASF-Chemical Co	Branch	Chattanooga, TN	United States	Miscellaneous Chemical Manufacturing	101.8	117
BASF-Chemical Co	Branch	Brandon, MS	United States	Miscellaneous Chemical Manufacturing	100.6	117
BASF-Chemical Co	Branch	Pearl, MS	United States	Miscellaneous Chemical Manufacturing	100.6	117
BASF-Chemical Co	Branch	Belvidere, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Somerset, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Edison, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Livingston, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Denville, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Rockaway, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Iselin, NJ	United States	Miscellaneous Chemical Manufacturing	100.4	117
BASF-Chemical Co	Branch	Bristol, PA	United States	Miscellaneous Chemical Manufacturing	96.5	117
BASF-Chemical Co	Branch	Philadelphia, PA	United States	Miscellaneous Chemical Manufacturing	96.5	117
BASF-Chemical Co	Branch	Evans City, PA	United States	Miscellaneous Chemical Manufacturing	96.5	117
BASF-Chemical Co	Branch	Tifton, GA	United States	Miscellaneous Chemical Manufacturing	93.9	117
BASF-Chemical Co	Branch	Kennesaw, GA	United States	Miscellaneous Chemical Manufacturing	93.9	117
BASF-Chemical Co	Branch	Los Angeles, CA	United States	Miscellaneous Chemical Manufacturing	90.8	117
BASF-Chemical Co	Branch	Appleton, WI	United States	Miscellaneous Chemical Manufacturing	89.7	117
BASF-Chemical Co	Branch	Williamsburg, VA	United States	Miscellaneous Chemical Manufacturing	89.1	117
BASF-Chemical Co	Branch	Jessup, MD	United States	Miscellaneous Chemical Manufacturing	86.8	117
BASF-Chemical Co	Branch	Fairmont, MN	United States	Miscellaneous Chemical Manufacturing	84.5	117
BASF-Chemical Co	Branch	Inver Grove Hts, MN	United States	Miscellaneous Chemical Manufacturing	84.5	117
BASF-Chemical Co	Branch	Lakeville, MN	United States	Miscellaneous Chemical Manufacturing	84.5	117
BASF-Chemical Co	Branch	Stony Brook, NY	United States	Miscellaneous Chemical Manufacturing	81.5	117
BASF-Chemical Co	Branch	Peekskill, NY	United States	Miscellaneous Chemical Manufacturing	81.5	117
BASF-Chemical Co	Branch	St Cloud, FL	United States	Miscellaneous Chemical Manufacturing	78.9	117
BASF-Chemical Co	Branch	Jacksonville, FL	United States	Miscellaneous Chemical Manufacturing	78.9	117
BASF-Chemical Co	Branch	Washington, DC	United States	Miscellaneous Chemical Manufacturing	44.2	117
BASF-Chemical Co	Branch	Erie, PA	United States	Miscellaneous Chemical Manufacturing	37.5	117
BASF Corp. - Monaca Polymers Plant	Facility	Monaca, PA	United States	Miscellaneous Chemical Manufacturing	96.5	115
BASF Corp. - Greenville Plant	Facility	Greenville, OH	United States	Paint, Coating, and Adhesive Manufacturing	132.6	104
ITWC Inc.	Subsidiary	Malcom, IA	United States	Synthetic Chemical Manufacturing	40.0	80
BASF-Chemical Co	Branch	Levittown, PA	United States	Miscellaneous Chemical Manufacturing	61.9	75
BASF Corp. - Washington Plant	Facility	Washington, NJ	United States	Miscellaneous Chemical Manufacturing	55.8	65
BASF-Chemical Co	Branch	East Newark, NJ	United States	Miscellaneous Chemical Manufacturing	51.5	60
BASF-Chemical Co	Branch	Hartwell, GA	United States	Miscellaneous Chemical Manufacturing	48.1	60
BASF-Chemical Co	Branch	Houston, TX	United States	Miscellaneous Chemical Manufacturing	75.9	50
BASF Corp. - Clemson Plant	Unit	Central, SC	United States	Miscellaneous Chemical Manufacturing	39.9	45
BASF-Chemical Co	Branch	Pasadena, TX	United States	Miscellaneous Chemical Manufacturing	63.8	42
BASF-Chemical Co	Branch	Fremont, CA	United States	Miscellaneous Chemical Manufacturing	31.0	40
BASF Foam Enterprises	Unit	Plymouth, MN	United States	Rubber and Plastic Product Manufacturing		40
BASF-Chemical Co	Branch	Edison, NJ	United States	Miscellaneous Chemical Manufacturing	30.0	35
BASF-Chemical Co	Branch	Streetsboro, OH	United States	Miscellaneous Chemical Manufacturing	26.7	30
BASF-Chemical Co	Branch	Corona, CA	United States	Miscellaneous Chemical Manufacturing	23.3	30
BASF Corp. - LaGrange - Nutrition & Health	Facility	La Grange, IL	United States	Basic Chemical Manufacturing	18.6	30
BASF Corp. - Engineering Plastics NAFTA	Unit	Budd Lake, NJ	United States	Synthetic Chemical Manufacturing	100.4	28
Pro Cat Testing LLC	Subsidiary	Wixom, MI	United States	Motor Vehicle Repair and Maintenance		28
BASF-Chemical Co	Branch	Toms River, NJ	United States	Miscellaneous Chemical Manufacturing	17.2	20
BASF-Chemical Co	Branch	Orange, CA	United States	Miscellaneous Chemical Manufacturing	15.5	20
BASF-Chemical Co	Branch	Sanders, AZ	United States	Miscellaneous Chemical Manufacturing	15.4	20
BASF Corp. - Charlotte (Chesapeake) Site	Unit	Charlotte, NC	United States	Architecture and Engineering		20
BASF Corp. - Tucson - Mining Chemicals	Facility	Tucson, AZ	United States	Chemical Wholesale	1.2	13
BASF-Chemical Co	Branch	Buena Park, CA	United States	Miscellaneous Chemical Manufacturing	9.3	12
BASF-Chemical Co	Branch	Dalton, GA	United States	Miscellaneous Chemical Manufacturing	8.0	10
BASF-Chemical Co	Branch	Portland, OR	United States	Miscellaneous Chemical Manufacturing	6.7	8
Basf Total Petrochemicals	Branch	Port Arthur, TX	United States	Chemical Wholesale	23.0	7
BASF Corp. - Livonia Plant	Facility	Livonia, MI	United States	Basic Chemical Manufacturing
BASF Corp. - Appleton Plant	Facility	Appleton, WI	United States	Miscellaneous Chemical Manufacturing
BASF Intertrade Corporation	Subsidiary	Houston, TX	United States	Chemical Wholesale
BASF Catalysts LLC	Subsidiary	Iselin, NJ	United States	Chemical Wholesale		7,100
Basf Catalysts LLC	Branch	Gordon, GA	United States	Basic Chemical Manufacturing	198.9	1,100
N.E. ChemCat Corporation	Joint Venture	Tokyo	Japan	Miscellaneous Chemical Manufacturing		618
Ne Cam Kart Korea Co., Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Textile Manufacturing	2.2	5
BASF Catalysts Germany GmbH	Subsidiary	Hannover, Niedersachsen	Germany	Motor Vehicle Parts Manufacturing	135.1	600
Basf Catalysts LLC	Branch	Wyandotte, MI	United States	Basic Chemical Manufacturing	206.4	300
Basf Catalysts LLC	Branch	Port Allen, LA	United States	Basic Chemical Manufacturing	593.4	251
Basf Catalysts LLC	Branch	Pasadena, TX	United States	Basic Chemical Manufacturing	284.6	251
Basf Catalysts LLC	Branch	Lincoln Park, MI	United States	Basic Chemical Manufacturing	172.7	251
Basf Catalysts LLC	Branch	Beachwood, OH	United States	Basic Chemical Manufacturing	166.8	251
Basf Catalysts LLC	Branch	Cleveland, OH	United States	Basic Chemical Manufacturing	166.8	251
Basf Catalysts LLC	Branch	Iselin, NJ	United States	Basic Chemical Manufacturing	160.9	251
Basf Catalysts LLC	Branch	Sanders, AZ	United States	Basic Chemical Manufacturing	144.1	251
BASF Beauty Care Solutions France SAS	Subsidiary	Lyon	France	Basic Chemical Manufacturing	80.8	242
BASF Catalysts LLC - Quincy	Facility	Quincy, FL	United States	Basic Chemical Manufacturing	134.9	176
Basf Metals Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Wholesale	22.0	104
Sheffield Smelting Co., Ltd.. (The)	Subsidiary	Cheadle	United Kingdom	Nonclassifiable Establishments
Basf Catalysts LLC	Branch	Savannah, GA	United States	Basic Chemical Manufacturing	59.9	100
BASF Beauty Care Solutions LLC	Subsidiary	Stony Brook, NY	United States	Basic Chemical Manufacturing		100
Ovonic Battery Company, Inc.	Subsidiary	Rochester Hills, MI	United States	Electrical Equipment and Appliances Manufacturing	16.1	93
BASF Catalysts LLC - East Windsor	Facility	East Windsor, CT	United States	Paint, Coating, and Adhesive Manufacturing	45.8	73
Basf Catalysts LLC	Branch	Vidalia, LA	United States	Basic Chemical Manufacturing	160.8	68
Basf Catalysts LLC	Branch	Aberdeen, MS	United States	Basic Chemical Manufacturing	9.6	15
Basf Catalysts LLC	Branch	Mc Intyre, GA	United States	Basic Chemical Manufacturing	5.4	9
Engelhard Metals AG	Subsidiary	Zug	Switzerland	Clothing and Apparel Stores		4
Basf Catalysts UK Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Basf Italia Spa	Subsidiary	Roma, Roma	Italy	Basic Chemical Manufacturing
H. Drijfhout En Zoons Edelmetaalbedrijven B.V.	Subsidiary	Purmerend, Noord-Holland	Netherlands	Miscellaneous Manufacturing
Engelhard Metals Gmbh	Subsidiary
BASF Catalysts LLC - Material Services	Unit	Iselin, NJ	United States	Metal Products Manufacturing
BASF Catalysts LLC - Environmental Technologies	Unit	Iselin, NJ	United States	Machinery and Equipment Manufacturing
BASF Catalysts LLC - Process Technologies	Unit	Iselin, NJ	United States	Miscellaneous Chemical Manufacturing
BASF Catalysts LLC - Appearance & Performance Technologies	Unit	Iselin, NJ	United States	Basic Chemical Manufacturing
BASF Catalysts LLC - Paper Pigments & Additives	Unit	Iselin, NJ	United States	Paint, Coating, and Adhesive Manufacturing
BASF Catalysts LLC - Separation Systems & Ventures	Unit	Iselin, NJ	United States	Basic Chemical Manufacturing
BASF Construction Chemicals GmbH	Division	Trostberg	Germany	Holding Companies		6,900
BASF Construction Chemicals GmbH - Frankfurt am Main	Facility	Frankfurt am Main	Germany	Paint, Coating, and Adhesive Manufacturing		7,685
BASF Construction Chemicals Asia/Pacific	Holding	Shanghai	China	Cement and Concrete Product Manufacturing		1,000
NMB Co., Ltd.	Unit	Tokyo	Japan	Cement and Concrete Product Manufacturing		400
BASF Construction Chemicals (Taiwan) Co., Ltd	Unit	Nant'ou	Taiwan	Home and Garden Retail		100
BASF Construction Chemicals Singapore Pte Ltd	Unit	Singapore	Singapore	Home and Garden Retail		60
BASF Construction Chemicals Australia Pty. Ltd.	Subsidiary	Seven Hills , NSW	Australia	Home and Garden Retail	8.3	40
BASF Construction Chemicals Malaysia Sdn Bhd	Subsidiary	Kelang, Selangor Darul Ehsan	Malaysia	Home and Garden Retail		40
BASF Construction Chemicals New Zealand Ltd	Subsidiary	Auckland	New Zealand	Home and Garden Retail	2.5	8
BASF Construction Chemicals (Hong Kong) Limited	Unit	Tsuen Wan, NT	Hong Kong	Home and Garden Retail		30
PCI Augsburg GmbH	Subsidiary	Augsburg, Bayern	Germany	Miscellaneous Chemical Manufacturing	286.0	800
Relius Coatings GmbH & Co KG	Subsidiary	Oldenburg, Niedersachsen	Germany	Paint, Coating, and Adhesive Manufacturing	111.3	440
Relius France S.A.S.	Subsidiary	Ostwald	France	Paint, Coating, and Adhesive Manufacturing	13.7	34
BASF Construction Chemicals Europe AG	Subsidiary	Zürich	Switzerland	Basic Chemical Manufacturing		300
BASF Bautechnik GmbH	Subsidiary	Trostberg, Bayern	Germany	Miscellaneous Chemical Manufacturing	18.3	100
Basf Construction System (China) Ltd	Subsidiary	Huzhou, Zhejiang	China	Paint, Coating, and Adhesive Manufacturing	12.2
BASF Construction Chemicals, LLC	Subsidiary	Cleveland, OH	United States	Paint, Coating, and Adhesive Manufacturing	2,027.0	250
BASF Construction Chemicals	Branch	Brighton, CO	United States	Miscellaneous Chemical Manufacturing	92.2	120
BASF Construction Chemicals	Branch	Forney, TX	United States	Miscellaneous Chemical Manufacturing	177.6	117
BASF Construction Chemicals	Branch	Omaha, NE	United States	Miscellaneous Chemical Manufacturing	107.9	117
BASF Construction Chemicals	Branch	Gowen, MI	United States	Miscellaneous Chemical Manufacturing	107.8	117
BASF Construction Chemicals	Branch	Greeneville, TN	United States	Miscellaneous Chemical Manufacturing	101.8	117
BASF Construction Chemicals	Branch	Menlo Park, CA	United States	Miscellaneous Chemical Manufacturing	90.8	117
BASF Construction Chemicals	Branch	Phoenix, AZ	United States	Miscellaneous Chemical Manufacturing	89.9	117
BASF Construction Chemicals	Branch	Knapp, WI	United States	Miscellaneous Chemical Manufacturing	89.7	117
BASF Corp. - Building Systems	Subsidiary	Shakopee, MN	United States	Paint, Coating, and Adhesive Manufacturing		113
BASF Construction Chemicals	Branch	Rancho Cucamonga, CA	United States	Miscellaneous Chemical Manufacturing	23.3	30
BASF Wall Systems, Inc.	Subsidiary	Jacksonville, FL	United States	Specialty Construction Trade Contractors	14.5	30
BASF Construction Chemicals	Branch	Acworth, GA	United States	Miscellaneous Chemical Manufacturing	21.7	27
BASF Construction Chemicals	Branch	St Paul, MN	United States	Miscellaneous Chemical Manufacturing	8.7	12
BASF Wall Systems GmbH & Co. KG	Subsidiary	Marktredwitz, Bayern	Germany	Miscellaneous Chemical Manufacturing		200
BASF Construction Polymers GmbH	Subsidiary	Trostberg, Bayern	Germany	Miscellaneous Chemical Manufacturing		200
BASF Construction Chemicals France SASU	Subsidiary	Evry	France	Miscellaneous Chemical Manufacturing	104.0	165
BASF Construction Chemicals (Schweiz) AG	Subsidiary	Schaffhausen	Switzerland	Rubber and Plastic Product Manufacturing		150
BASF Admixture Systems Europe	Unit	Zurich	Switzerland	Cement and Concrete Product Manufacturing	792.8	200
BASF Yapi Kimyasallari Sanayi AS	Subsidiary	Istanbul	Turkey	Chemical Wholesale		148
BASF Construction Chemicals UK	Subsidiary	Manchester	United Kingdom	Textile Manufacturing	25.0	70
Basf Stroitelnye Sistemy Ooo	Subsidiary	Bolshoe Tolbino	Russian Federation	Synthetic Chemical Manufacturing	51.6	67
BASF Construction Chemicals Denmark A/S	Subsidiary	Rodekro	Denmark	Miscellaneous Chemical Manufacturing		50
BASF Construction Chemicals Venezuela, S.A.	Subsidiary	Caracas	Venezuela	Home and Garden Retail		40
Evonik Degussa Ticaret Ltd Sti	Subsidiary	Istanbul (Anatolia)	Turkey	Chemical Wholesale		29
BASF Construction Chemicals Canada Ltd.	Subsidiary	Brampton, ON	Canada	Cement and Concrete Product Manufacturing	7.2	20
BASF Construction Chemicals Sweden AB	Subsidiary	Stockholm, Rosersberg	Sweden	Home and Garden Retail		15
BASF Construction Chemicals Austria GmbH	Subsidiary	Krieglach	Austria	Home and Garden Retail
BASF Construction Chemicals S.A.	Subsidiary	Lima	Peru	Basic Chemical Manufacturing
BASF Construction Chemicals (Pty) Ltd	Subsidiary	Westonaria	South Africa	Miscellaneous Chemical Manufacturing
BASF S.A.	Subsidiary	São Paulo, SP	Brazil	Basic Chemical Manufacturing	3,553.7	5,893
Cognis Deutschland GmbH & Co KG	Subsidiary	Monheim Am Rhein	Germany	Miscellaneous Chemical Manufacturing	3,593.6	5,571
Cognis Chemicals (China) Co. Ltd.	Subsidiary	Shanghai	China	Synthetic Chemical Manufacturing		400
Cognis GmbH - Illertissen	Facility	Illertissen	Germany	Synthetic Chemical Manufacturing		374
Cognis Thai Ltd.	Subsidiary	Bangkok	Thailand	Miscellaneous Chemical Manufacturing		50
Cognis Performance Chemicals Uk Ltd.	Subsidiary	Southampton	United Kingdom	Chemical Wholesale		25
Cosmetic Rheologies Ltd.	Subsidiary	Bury	United Kingdom	Miscellaneous Wholesale		7
Cognis Corporation	Subsidiary	Cincinnati, OH	United States	Miscellaneous Chemical Manufacturing
P.T. Cognis Indonesia	Subsidiary	Jakarta	Indonesia	Miscellaneous Chemical Manufacturing
Cognis Australia Pty. Ltd.	Subsidiary	Melbourne, VIC	Australia	Miscellaneous Chemical Manufacturing
BASF S.A.	Subsidiary	Sao Bernardo do Campo, SP	Brazil	Miscellaneous Chemical Manufacturing		3,700
BASF Poliuretanos Ltda.	Subsidiary	Maua, SP	Brazil	Miscellaneous Chemical Manufacturing		100
BASF SA	Subsidiary	Sao Bernardo do Campo, SP	Brazil	Paint, Coating, and Adhesive Manufacturing
B.A.S.F. Antwerpen	Subsidiary	Lillo	Belgium	Basic Chemical Manufacturing	9,227.2	3,042
BASF (Schweiz) AG - Basel Site	Subsidiary	Basel	Switzerland	Chemical Wholesale	71,223.8	3,000
Smithers Information Ltd.	Subsidiary	Leatherhead	United Kingdom	Miscellaneous Professional Services	9.8	52
Ciba UK Investment PLC	Subsidiary	Cheadle	United Kingdom	Miscellaneous Professional Services
Ciba Specialty Chemicals Water Treatments Ltd.	Subsidiary	Bradford	United Kingdom	Miscellaneous Chemical Manufacturing		1,000
Allied Colloids Group Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Chemical Manufacturing
Allied Colloids Overseas Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Chemical Manufacturing
Low Moor Securities Ltd.	Subsidiary	Cheadle	United Kingdom	Nonclassifiable Establishments
Ciba Specialty Chemicals Overseas Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Chemical Manufacturing
Ciba Specialty Chemical Co.	Subsidiary	Ho Chi Minh	Viet Nam	Miscellaneous Chemical Manufacturing
BASF IT Services GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Computer System Design Services	288.9	2,300
BASF IT Services Ltd.	Subsidiary	Ballerup	Denmark	Computer System Design Services		160
BASF IT Services Consult GmbH	Subsidiary	Hamburg, Hamburg	Germany	Computer System Design Services	8.8	150
Basf It Services	Subsidiary	Antwerpen	Belgium	Computer System Design Services	20.1	95
BASF IT Services N.V./S.A. - France	Subsidiary	Levallois-Perret	France	Computer System Design Services
BASF Jobmarkt GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Employment Services	60.4	1,580
BASF-YPC Company Limited	Subsidiary	Nanjing	China	Synthetic Chemical Manufacturing		1,500
BASF Crop Protection Division	Division	Limburgerhof	Germany	Holding Companies		1,350
BASF Agro, Ltd.	Subsidiary	Tokyo	Japan	Miscellaneous Chemical Manufacturing		170
BASF Agricultural Research Foundation, Inc.	Subsidiary	Laguna	Philippines	Research and Development Services		100
BASF Agro Hellas Industrial and Commercial S.A.	Subsidiary	Athens, Agia Paraskevi	Greece	Miscellaneous Chemical Manufacturing		80
BASF Agro B.V. - Arnhem (NL)	Subsidiary	Wadenswil	Switzerland	Miscellaneous Chemical Manufacturing
Elastogran GmbH	Subsidiary	Lemforde	Germany	Rubber and Plastic Product Manufacturing		1,200
Elastogran France S.A.S	Subsidiary	Mitry-Mory	France	Synthetic Chemical Manufacturing		160
BASF Poliuretán Hungária Kft	Subsidiary	Solymár	Hungary	Rubber and Plastic Product Manufacturing	22.8	24
Elastogran Lagomat Nordic AB	Subsidiary	Angered	Sweden	Synthetic Chemical Manufacturing		23
BASF Polyurethane Industry and Trade Co., Ltd. Sti	Subsidiary	Istanbul, Seyhli-Pendik	Turkey	Synthetic Chemical Manufacturing		5
OOO Elastokam	Subsidiary	Nizhnekamsk	Russian Federation	Miscellaneous Chemical Manufacturing
Elastogran Italia S.p.A.	Subsidiary	Villanova d'Asti	Italy	Synthetic Chemical Manufacturing
Basf Española Sociedad Limitada	Subsidiary	Barcelona	Spain	Basic Chemical Manufacturing	1,094.8	1,094
BASF Construction Chemicals Italia SpA	Subsidiary	Treviso, TV	Italy	Basic Chemical Manufacturing	116.5	200
BASF Naber S.A.	Subsidiary	Silla	Spain	Miscellaneous Chemical Manufacturing		200
Basf Portuguesa, S.A.	Subsidiary	Rio De Mouro, Sintra	Portugal	Chemical Wholesale	19.9	60
BASF Espanola S.L.	Subsidiary	Tarragona	Spain	Miscellaneous Chemical Manufacturing		50
BASF Curtex Produtos Qummicos, Lda.	Division	Porto	Portugal	Miscellaneous Chemical Manufacturing
BASF Styrodur Iberica S.L.	Subsidiary	Tudela	Spain	Miscellaneous Chemical Manufacturing		25
BASF Italia SpA	Subsidiary	Cesano Maderno, MB	Italy	Basic Chemical Manufacturing	616.0	1,075
BASF Italia - Centro Ricerca e Sviluppo	Unit	Lugo di Romagna, RA	Italy	Miscellaneous Chemical Manufacturing		12
BASF Italia - Centro Cuoio	Unit	Vicenza, VI	Italy	Miscellaneous Chemical Manufacturing
BASF Italia - Espansi	Unit	Bibbiano	Italy	Miscellaneous Chemical Manufacturing
BASF Italia - Nutrizione Animale	Unit	Bergamo, BG	Italy	Miscellaneous Personal Services
BASF Interservice Spa	Subsidiary	Cesano Maderno, MI	Italy	Miscellaneous Chemical Manufacturing
BASF Coatings Services Italy Srl	Subsidiary	Scandicci, Florence	Italy	Miscellaneous Wholesale
Basf Italia Spa	Branch	Sasso Marconi, Bologna	Italy	Basic Chemical Manufacturing
Wintershall Lenkoran GmbH	Subsidiary	Kassel, Hessen	Germany	Petroleum and Natural Gas Extraction		1,000
BASF Argentina S.A.	Subsidiary	Buenos Aires	Argentina	Pharmaceutical Manufacturing	202.4	700
BASF Poliuretanos S.A.	Subsidiary	Buenos Aires	Argentina	Miscellaneous Chemical Manufacturing		27
BASF Nederland BV	Subsidiary	Maastricht	Netherlands	Chemical Wholesale	657.1	673
Basf T.O.V., Limited Liability Company	Subsidiary	Kyiv	Ukraine	Chemical Wholesale	68.8	81
Basf Agro B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Airlines	1,723.6	33
BASF Minerals Oy	Subsidiary	Helsinki	Finland	Construction and Hardware Materials Wholesale	25.9	15
Basf Promyshlennye Metally Ooo	Subsidiary	Moscow	Russian Federation	Machinery Wholesale	1.0	13
Basf Japan Ltd.	Subsidiary	Minato-Ku, Tokyo	Japan	Miscellaneous Chemical Manufacturing	1,498.2
Basf Japan Ltd.	Branch	Osaka, Osaka	Japan	Basic Chemical Manufacturing
BASF Finance Europe N.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
Ciba Especialidades Quimicas Ltda.	Subsidiary	Sao Paulo	Brazil	Miscellaneous Chemical Manufacturing		520
BASF PharmaChemikalien GmbH & Co. KG	Subsidiary	Minden, Nordrhein-Westfalen	Germany	Basic Chemical Manufacturing		500
B A S F	Joint Venture	Paisley	United Kingdom	Basic Chemical Manufacturing		500
Construction Research & Technology GmbH	Subsidiary	Trostberg, Bayern	Germany	Research and Development Services		500
BASF Pharma (Evionnaz) SA	Subsidiary	Evionnaz	Switzerland	Pharmaceutical Manufacturing	164.2	450
BASF Pharma (St. Vulbas) S.A.S.	Subsidiary	Saint-Vulbas	France	Pharmaceutical Manufacturing	58.7	135
BASF Performance Products France SA	Subsidiary	Lyon	France	Chemical Wholesale	231.9	446
BASF Performance Products France - Gron Plant	Facility	Gron	France	Miscellaneous Chemical Manufacturing
Basf PLC	Subsidiary	Nottingham	United Kingdom	Basic Chemical Manufacturing	946.4	394
Basf Construction Chemicals (UK) Ltd.	Subsidiary	Cheadle	United Kingdom	Basic Chemical Manufacturing	0.3	2,000
Basf Coatings Refinish Ltd.	Subsidiary	Chatham	United Kingdom	Nonclassifiable Establishments		117
Sorex Holdings Ltd.	Subsidiary	Widnes	United Kingdom	Miscellaneous Professional Services		70
Whitmire Micro-Gen Research Laboratories, Inc.	Subsidiary	Saint Louis, MO	United States	Agricultural Chemical Manufacturing		100
Sorex Ltd.	Subsidiary	Widnes	United Kingdom	Basic Chemical Manufacturing		75
Basf Pensions Trustee Ltd.	Subsidiary	Cheadle	United Kingdom	Insurance Agents
BASF Biocides Limited	Subsidiary	Ruddington	United Kingdom	Miscellaneous Chemical Manufacturing
BASF Holdings South Africa (Pty) Ltd	Subsidiary	Midrand	South Africa	Miscellaneous Wholesale		370
ADVIT Animal Nutrition	Subsidiary	Sebenza	South Africa	Food Manufacturing		33
BASF Construction Chemicals South Africa (Pty) Ltd.	Subsidiary	Midrand	South Africa	Chemical Wholesale
Wintershall Services B.V.	Subsidiary	Rijswijk	Netherlands	Petroleum and Natural Gas Extraction		300
BASF Chemicals Company Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing		300
Engelhard South Africa (Pty.) Ltd.	Subsidiary	Port Elizabeth	South Africa	Machinery and Equipment Manufacturing		300
Pronova BioPharma ASA	Subsidiary	Lysaker	Norway	Pharmaceutical Manufacturing	297.6	296
Pronova BioPharma Norge AS	Subsidiary	Sandefjord	Norway	Pharmaceutical Manufacturing		128
BASF Polska Sp. z.o.o.	Subsidiary	Warszawa	Poland	Agricultural Chemical Manufacturing	833.9	285
BASF Wall Systems Verwaltungs-GmbH	Subsidiary	Marktredwitz, Bayern	Germany	Chemical Wholesale		280
BASF Corp. - Southfield Site	Division	Southfield, MI	United States	Paint, Coating, and Adhesive Manufacturing		275
Basf Belgium Coordination Center	Subsidiary	Antwerpen	Belgium	Miscellaneous Chemical Manufacturing	138.8	230
Bascom Belgium	Subsidiary	Waterloo	Belgium	Miscellaneous Wholesale	4.9	18
BASF A/S	Subsidiary	København S	Denmark	Chemical Wholesale	106.8	212
Basf Performance Products PLC	Subsidiary	Macclesfield	United Kingdom	Basic Chemical Manufacturing	474.2	200
BASF Performance Products plc - Bradford Plant	Facility	Bradford	United Kingdom	Miscellaneous Chemical Manufacturing		800
Ciba UK PLC	UK Branch/Trading address	Paisley	United Kingdom	Basic Chemical Manufacturing	474.2	700
BASF Performance Products plc - Pigments Division	Division	Macclesfield	United Kingdom	Basic Chemical Manufacturing		300
BASF Performance Products plc - Paisley Plant	Facility	Paisley	United Kingdom	Basic Chemical Manufacturing		250
BASF Catalysts (Shanghai) Co. Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing	291.2	200
BASF Philippines Inc	Subsidiary	Metro Manila	Philippines	Synthetic Chemical Manufacturing	5.4	200
BASF Indonesia, PT	Subsidiary	Jakarta	Indonesia	Basic Chemical Manufacturing		200
P.T. BASF Indonesia	Subsidiary	Jakarta	Indonesia	Miscellaneous Chemical Manufacturing		200
BASF Polyurethanes (China) Co., Ltd.	Subsidiary	Guangzhou, Guangdong	China	Synthetic Chemical Manufacturing		200
BASF (Czech) spol. s r.o.	Subsidiary	Prague	Czech Republic	Miscellaneous Chemical Manufacturing		200
Basf Corporation	Division	Durham, NC	United States	Basic Chemical Manufacturing		200
BASF Oy	Subsidiary	Helsinki	Finland	Chemical Wholesale	121.7	196
BASF Oy - Wolman Division	Division	Kuusankoski	Finland	Miscellaneous Chemical Manufacturing
Basf Chile S.A.	Subsidiary	Santiago	Chile	Pharmaceutical Manufacturing	220.8	187
Aislapol S.A.	Subsidiary	Santiago	Chile	Miscellaneous Chemical Manufacturing
BASF Shanghai Coatings Co. Ltd.	Subsidiary	Shanghai	China	Paint, Coating, and Adhesive Manufacturing		180
BASF Peruana S.A.	Subsidiary	Lima	Peru	Basic Chemical Manufacturing		160
BASF France SA	Subsidiary	Levallois Perret	France	Chemical Wholesale	81.5	152
Societe Fonciere et Industrielle S.A.S.	Subsidiary	Clermont	France	Miscellaneous Chemical Manufacturing		500
BASF Agro SAS	Subsidiary	Ecully	France	Miscellaneous Wholesale	470.3	374
BASF Agri Production SAS	Subsidiary	Ecully	France	Pharmaceutical Manufacturing	554.5	473
BASF Agri-Production S.A.S.	Subsidiary	Gravelines	France	Agricultural Chemical Manufacturing		120
BASF Health and Care Products France S.A.S.Â	Subsidiary	Saint Fargeau Ponthierry Cedex	France	Miscellaneous Chemical Manufacturing	452.4	327
BASF Beauty Care Solutions France SAS	Subsidiary	Levallois-Perret	France	Basic Chemical Manufacturing		100
BASF Health & Nutrition A/S	Subsidiary	Ballerup	Denmark	Administration of Public Programs		150
ZAO BASF	Subsidiary	Moscow	Russian Federation	Miscellaneous Chemical Manufacturing		150
BASF - Ukraine	Subsidiary	Kiev	Ukraine	Chemical Wholesale		80
BASF - Belarus	Subsidiary	Minsk	Belarus	Chemical Wholesale		13
BASF Construction Chemicals Central Asia LLP	Subsidiary	Almaty	Kazakhstan	Miscellaneous Chemical Manufacturing		9
BASF - Uzbekistan	Subsidiary	Tashkent	Uzbekistan	Chemical Wholesale		2
OOO BASF Wostok	Subsidiary	Moscow	Russian Federation	Miscellaneous Chemical Manufacturing
BASF Tuerk Kimya Sanayi ve Ticaret Ltd. Sti.	Subsidiary	Karakoyunlu, Istanbul	Turkey	Chemical Wholesale		150
BASF Tuerk Kimya Sanayi ve Ticaret Ltd. Sti.	Subsidiary	Gebze, Dilovasi	Turkey	Chemical Wholesale
BASF Coatings Services SARL	Subsidiary	Compans	France	Miscellaneous Wholesale	52.4	149
Crop Design	Subsidiary	Zwijnaarde	Belgium	Research and Development Services	23.8	149
BASF Vietnam Co. Ltd.	Subsidiary	Thuan An, Binh Duong	Viet Nam	Miscellaneous Chemical Manufacturing		136
Saudi BASF for Building Materials Co. Ltd.	Subsidiary	Dammam	Saudi Arabia	Construction and Hardware Materials Wholesale		135
Cognis S.A.	Subsidiary	Avellaneda	Argentina	Miscellaneous Chemical Manufacturing	28.5	130
BASF Agrochemical Products B.V.	Subsidiary	Arnhem	Netherlands	Agricultural Chemical Manufacturing	440.3	123
Untertage-Speicher-Gesellschaft mbH (USG)	Subsidiary	Kassel	Germany	Miscellaneous Chemical Manufacturing		120
BASF QuÃmica Colombiana S.A.	Subsidiary	Bogotá DC	Colombia	Basic Chemical Manufacturing	227.2	110
Basf Belgium	Subsidiary	Waterloo	Belgium	Chemical Wholesale	33.3	102
BASF Polyurethanes	Subsidiary	Brussels	Belgium	Chemical Wholesale		35
BASF SE - European Governmental Affairs	Unit	Brussels	Belgium	Miscellaneous Chemical Manufacturing		10
BTC Speciality Chemical Distribution GmbH	Subsidiary	Köln	Germany	Chemical Wholesale	205.3	100
Watson Bowman Acme Corp.	Subsidiary	Amherst, NY	United States	Metal Products Manufacturing	25.1	100
inge GmbH	Subsidiary	Greifenberg, Bayern	Germany	Miscellaneous Manufacturing	10.8	100
BASF Holdings South Africa (Pty.) Ltd.	Subsidiary	Halfway House	South Africa	Investment Services		100
BASF spol. s.r.o.	Subsidiary	Bratislava	Czech Republic	Chemical Wholesale		100
BASF Ireland Limited	Subsidiary	Little Island, Cork	Ireland	Miscellaneous Chemical Manufacturing		100
OOO BASF Stroitelnye Sistemy	Subsidiary	Moscow	Russian Federation	Chemical Wholesale		100
BASF AB	Subsidiary	Göteborg	Sweden	Chemical Wholesale	44.1	85
BASF Hungária Vegyiáru és KiegészÃtõ Termék Berendezés- és Szolgáltatás Kereskedelmi Kft	Subsidiary	Budapest	Hungary	Chemical Wholesale		80
BASF S.r.l.	Subsidiary	Bucharest	Romania	Chemical Wholesale		80
BASF Kanoo Gulf FZE	Subsidiary	Dubai	United Arab Emirates	Chemical Wholesale		75
Basf Ecuatoriana S.A.	Subsidiary	Quito, Pichincha	Ecuador	Chemical Wholesale		74
Basf Metals Recycling Ltd.	Subsidiary	Cinderford	United Kingdom	Metal Products Manufacturing	921.1	70
Dr. D.A. Delis AG	Subsidiary	Athens	Greece	Chemical Wholesale		70
BASF-Lanka (Pvt.) Ltd.	Subsidiary	Colombo	Sri Lanka	Miscellaneous Chemical Manufacturing		65
BASF Industrial Water Management France S.A.S.	Subsidiary	La Courneuve	France	Machinery and Equipment Manufacturing		61
BASF FZE	Subsidiary	Dubai	United Arab Emirates	Chemical Wholesale		60
Construction Chemicals Division in BASF A/S	Subsidiary	Rodekro	Denmark	Chemical Wholesale		60
BASF ChemTrade GmbH	Subsidiary	Burgbernheim, Bayern	Germany	Chemical Wholesale	151.3	50
Relius Nederland B.V.	Subsidiary	Deurne	Netherlands	Paint, Coating, and Adhesive Manufacturing	16.3	50
BASF Electronic Materials (Shanghai) Co. Ltd.	Subsidiary	Shanghai	China	Semiconductor and Other Electronic Component Manufacturing	4.8	50
Basf Pharma (Callanish) Ltd.	Subsidiary	London	United Kingdom	Food Manufacturing	3.1	50
BASF de Costa Rica S.A.	Subsidiary	Alajuela	Costa Rica	Chemical Wholesale		50
BASF Maroc S.A.	Subsidiary	Casablanca	Morocco	Chemical Wholesale		50
P. Papas & Co. O.E. Trading Company	Subsidiary	Peristeri, Athen	Greece	Miscellaneous Chemical Manufacturing		50
BASF Uruguaya S.A.	Subsidiary	Montevideo	Uruguay	Chemical Wholesale		45
BASF EOOD	Subsidiary	Sofia	Bulgaria	Miscellaneous Chemical Manufacturing	46.8	43
BASF Portuguesa, Lda	Subsidiary	Rio De Mouro, Lisboa	Portugal	Chemical Wholesale	17.3	43
BNA SAS	Subsidiary	Aze	France	Food Manufacturing	72.8	40
BASF (Schweiz) AG	Subsidiary	Wadenswil	Switzerland	Miscellaneous Chemical Manufacturing		40
BASF Intertrade AG	Subsidiary	Zug	Switzerland	Miscellaneous Chemical Manufacturing		12
Inca Bronze Powders Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Professional Services
BASF Fine Chemicals Switzerland SA	Subsidiary	Geneva, VS	Switzerland	Miscellaneous Chemical Manufacturing
BASF Kaisten AG	Subsidiary	Kaisten	Switzerland	Miscellaneous Chemical Manufacturing
BASF Venezuela, S.A.	Subsidiary	Caracas	Venezuela	Agricultural Chemical Manufacturing		40
BASF Österreich GmbH	Subsidiary	Wien	Austria	Chemical Wholesale	14.5	39
BASF Performance Products GmbH	Subsidiary	Zwentendorf an der Donau	Austria	Pharmaceutical Manufacturing	94.4	78
BASF de Guatemala, S.A.	Subsidiary	Guatemala	Guatemala	Miscellaneous Chemical Manufacturing		38
BASF-Chemical Co	Subsidiary	Plymouth, MN	United States	Miscellaneous Chemical Manufacturing	25.3	35
Magenta Master Fibers Srl	Subsidiary	Magenta, Milan	Italy	Synthetic Chemical Manufacturing	11.9	35
Magenta Master Fibers (Shanghai) Co., Ltd.	Subsidiary	Shanghai, Shanghai	China	Basic Chemical Manufacturing	2.2	35
BASF Fuel Cell Inc.	Subsidiary	Somerset, NJ	United States	Semiconductor and Other Electronic Component Manufacturing	21.0	31
PolyAd Services LLC	Subsidiary	Earth City, MO	United States	Miscellaneous Chemical Manufacturing	25.8	30
Btc Speciality Chemical Distribution Sl	Subsidiary	Barcelona	Spain	Rubber and Plastic Product Manufacturing	5.5	30
BTC Speciality Chemical Distribution, s.r.o.	Division	Bratislava	Slovakia	Synthetic Chemical Manufacturing		225
BTC Speciality Chemical Distribution N.V./S.A.	Division	Brussels	Belgium	Synthetic Chemical Manufacturing		200
BTC Speciality Chemical Distribution France SAS	Division	Levallois Perret	France	Miscellaneous Wholesale	6.1	34
Btc Speciality Chemical Distribution Ltd.	Division	Cheadle	United Kingdom	Chemical Wholesale	6.0	34
BTC Speciality Chemical Distribution A/S	Division	Copenhagen	Denmark	Miscellaneous Chemical Manufacturing		5
BTC Speciality Chemical Distribution S.p.A.	Division	Cesano Maderno	Italy	Synthetic Chemical Manufacturing
BTC Speciality Chemical Distribution, Unip. Lda.	Division	Porto	Portugal	Synthetic Chemical Manufacturing
BASF Performance Products GmbH	Subsidiary	Krieglach	Austria	Miscellaneous Chemical Manufacturing		30
BASF Dominicana S.A.	Subsidiary	Santo Domingo	Dominican Republic	Chemical Wholesale		30
Basf Metal Forwards Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Wholesale		25
BASF Iran AG	Subsidiary	Tehran	Iran	Chemical Wholesale		25
BASF Slovensko s.r.o.	Subsidiary	Bratislava	Slovakia	Chemical Wholesale		25
BASF Srbija d.o.o.	Subsidiary	Belgrade	Serbia	Chemical Wholesale		24
BASF Paraguaya S.A.	Subsidiary	Asuncion, Casilla de Correo	Paraguay	Chemical Wholesale		23
BASF UAB	Subsidiary	Vilnius	Lithuania	Miscellaneous Chemical Manufacturing		23
BASF UAB - Latvia	Subsidiary	Riga	Latvia	Chemical Wholesale
BASF-Chemical Co	Subsidiary	Seaford, DE	United States	Miscellaneous Chemical Manufacturing	37.1	22
Novolyte Technologies, Inc.	Subsidiary	Independence, OH	United States	Miscellaneous Chemical Manufacturing	0.7	20
BASF S.p.A.	Subsidiary	Hydra	Algeria	Chemical Wholesale		20
BASF Future Business GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Research and Development Services		20
BASF Venture Capital GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Investment Services		12
hte Aktiengesellschaft	Subsidiary	Heidelberg, Baden-Württemberg	Germany	Research and Development Services		250
BASF Slovenija d.o.o.	Subsidiary	Ljubljana	Slovenia	Chemical Wholesale		17
BASF Food	Subsidiary	Sofia	Bulgaria	Miscellaneous Chemical Manufacturing		17
BASF AS	Subsidiary	Asker	Norway	Chemical Wholesale	56.7	12
BASF Tunisie S.A.	Subsidiary	Megrine	Tunisia	Chemical Wholesale		12
S.T.I.M.A. S.A.R.L.	Subsidiary	Tunis	Tunisia	Agricultural Chemical Manufacturing		12
BASF Croatia d.o.o.	Subsidiary	Zagreb	Croatia	Synthetic Chemical Manufacturing		10
BASF de El Salvador, S.A. de C.V.	Subsidiary	San Salvador	El Salvador	Chemical Wholesale		10
BASF Metals Japan Ltd.	Subsidiary	Tokyo	Japan	Miscellaneous Chemical Manufacturing		10
BASF Industrial Metals LLC	Subsidiary	Moscow	Russian Federation	Miscellaneous Chemical Manufacturing		10
SEWOGE Service- und Wohnungsunternehmen GmbH	Subsidiary	Schwarzheide, Brandenburg	Germany	Miscellaneous Chemical Manufacturing		7
Tradewinds Chemicals Corporation	Subsidiary	Wilmington, DE	United States	Chemical Wholesale	1.4	6
baseclick GmbH	Subsidiary	Tutzing	Germany	Miscellaneous Chemical Manufacturing	0.9	6
BASF Handels- und Exportgesellschaft mit beschränkter Haftung	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Chemical Wholesale		6
BASF Coatings GmbH	Subsidiary	Münster, Nordrhein-Westfalen	Germany	Paint, Coating, and Adhesive Manufacturing	750.8	3,000
BASF Coatings A.S.	Subsidiary	Istanbul	Turkey	Paint, Coating, and Adhesive Manufacturing		800
BASF Coatings SAS	Subsidiary	Clermont de Oise	France	Paint, Coating, and Adhesive Manufacturing	335.6	600
Soc Fonciere Et Industrielle	Subsidiary	Breuil Le Sec	France	Property Managers	6.4
BASF Coatings Japan Ltd.	Subsidiary	Yokohama	Japan	Paint, Coating, and Adhesive Manufacturing		400
BASF Coatings Services GmbH	Subsidiary	Dortmund, Nordrhein-Westfalen	Germany	Construction and Hardware Materials Wholesale	58.1	122
Basf Coatings Services	Subsidiary	Bornem	Belgium	Paint, Coating, and Adhesive Manufacturing	49.0	105
BASF Coatings Nederland B.V.	Subsidiary	Maarssen	Netherlands	Miscellaneous Chemical Manufacturing	24.8	80
BASF Akquisitions GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Consulting Services		5
Wintershall Holding AG	Subsidiary	Kassel, Hessen	Germany	Petroleum and Natural Gas Extraction		2,300
Wintershall AG	Subsidiary	Kassel, Hessen	Germany	Petroleum Product Manufacturing	1,009.8	500
Haidkopf GmbH	Subsidiary	Kassel	Germany	Natural Gas Distribution		1,600
Wintershall Erdgas Beteiligungs GmbH	Subsidiary	Kassel, Hessen	Germany	Petroleum and Natural Gas Extraction		500
Wintershall Noordzee B.V.	Subsidiary	Rijswijk	Netherlands	Petroleum and Natural Gas Extraction		300
Wintershall Libya	Subsidiary	Tripoli	Libyan Arab Jamahiriya	Petroleum and Natural Gas Extraction		200
Wintershall Energia S.A.	Subsidiary	Buenos Aires	Argentina	Miscellaneous Chemical Manufacturing	292.1	60
Wintershall Erdgas Handelshaus GmbH AG	Subsidiary	Berlin	Germany	Petroleum and Natural Gas Extraction		20
Wirom Gas S.A.	Joint Venture	Bucharest	Romania	Miscellaneous Chemical Manufacturing		20
Wintershall Oil AG	Subsidiary	Zug	Switzerland	Petroleum Wholesale	256.0	8
Wintershall Petroleum Iberia S.A.	Subsidiary	Madrid	Spain	Petroleum and Natural Gas Extraction		4
Wintershall Middle East GmbH-Abu Dhabi	Subsidiary	Abu Dhabi	United Arab Emirates	Petroleum and Natural Gas Extraction		2
Wintershall Erdgas Handelshaus Zug AG	Subsidiary	Zug	Switzerland	Natural Gas Distribution
Wiee Romania SRL	Subsidiary	Bucharest	Romania	Natural Gas Distribution		7
Wintershall AG Vertretung Moskau	Subsidiary	Moscow	Russian Federation	Miscellaneous Chemical Manufacturing
Wintershall Gas spol. s r.o.	Subsidiary	Prague	Czech Republic	Petroleum and Natural Gas Extraction
Wintershall AG Doha	Subsidiary	Doha	Qatar	Miscellaneous Chemical Manufacturing
Wintershall Nederland BV	Subsidiary	Rijswijk	Netherlands	Petroleum Product Manufacturing	184.5	250
Clyde Netherlands BV	Subsidiary	Hague	Netherlands	Petroleum and Natural Gas Extraction
Wintershall Norge ASA	Subsidiary	Stavanger	Norway	Petroleum and Natural Gas Extraction	43.7	101
Wintershall (UK North Sea) Ltd.	Subsidiary	Aberdeen	United Kingdom	Petroleum and Natural Gas Extraction	26.3
Wintershall (E&P) Ltd.	Subsidiary	London	United Kingdom	Petroleum and Natural Gas Extraction	3.0	1
Wintershall Russland GmbH	Subsidiary	Kassel, Hessen	Germany	Miscellaneous Personal Services	13.5	42
Untertage-Speicher-GmbH	Subsidiary	Nordenham, Niedersachsen	Germany	Petroleum Wholesale	9.2	2
BASF Polyurethanes GmbH	Subsidiary	Lemförde, Niedersachsen	Germany	Chemical Wholesale		1,770
BASF Poliuretani Italia SpA	Subsidiary	Villanova d'Asti, AT	Italy	Synthetic Chemical Manufacturing	301.6	132
BASF Polyurethanes France SASU	Subsidiary	Mitry Mory	France	Synthetic Chemical Manufacturing	93.6	74
Basf Poliuretanos Iberia Sa	Subsidiary	Rubi, Barcelona	Spain	Synthetic Chemical Manufacturing	149.7	71
Basf Polyurethanes U.K. Ltd.	Subsidiary	Alfreton	United Kingdom	Chemical Wholesale	77.3	58
BASF Polyurethanes South Africa (Pty.) Ltd.	Subsidiary	Johannesburg	South Africa	Chemical Wholesale		54
BASF Polyurethanes Benelux B.V.	Subsidiary	Boxtel	Netherlands	Miscellaneous Chemical Manufacturing	65.5	30
BASF Polyurethanes Nordic AB	Subsidiary	Angered	Sweden	Miscellaneous Chemical Manufacturing	17.1	24
BASF Poliuretany Polska Sp. z o.o.	Subsidiary	Srem	Poland	Rubber and Plastic Product Manufacturing		21
BASF Polyurethane Licensing GmbH	Subsidiary	Lemförde, Niedersachsen	Germany	Miscellaneous Chemical Manufacturing	72.5	1
BASF Polyurethanes Pars (Private Joint Stock) Company	Subsidiary	Tehran	Iran	Rubber and Plastic Product Manufacturing
BASF Polyurethanes (Chongqing) Co. Ltd.	Subsidiary	Chongqing	China	Miscellaneous Chemical Manufacturing
BASF Schwarzheide GmbH	Subsidiary	Schwarzheide, Brandenburg	Germany	Basic Chemical Manufacturing	1,479.7	1,760
BASF Grenzach GmbH	Subsidiary	Grenzach-Wyhlen, Baden-Württemberg	Germany	Miscellaneous Chemical Manufacturing	134.7	800
BASF Lampertheim GmbH	Subsidiary	Lampertheim, Hessen	Germany	Basic Chemical Manufacturing	710.8	500
PolyAd Services GmbH	Subsidiary	Lampertheim, Hessen	Germany	Miscellaneous Chemical Manufacturing	16.8	7
BTC Europe GmbH	Subsidiary	Monheim Am Rhein, Nordrhein-Westfalen	Germany	Chemical Wholesale		300
Basf Turk Kimya Sanayi Ve Ticaret Ltd Sti	Subsidiary	Istanbul (Anatolia)	Turkey	Basic Chemical Manufacturing	127.8	280
BASF Pigment GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing		250
BASF Performance Polymers GmbH	Subsidiary	Rudolstadt, Thüringen	Germany	Rubber and Plastic Product Manufacturing		170
Guano-Werke GmbH & Co. KG	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing		160
BASF Leuna GmbH	Subsidiary	Leuna, Sachsen-Anhalt	Germany	Miscellaneous Chemical Manufacturing	94.5	140
BASF Color Solutions Germany GmbH	Subsidiary	Köln, Nordrhein-Westfalen	Germany	Miscellaneous Chemical Manufacturing	81.0	117
BASF Color Solutions France S.A.S.	Subsidiary	Clermont, Oise	France	Chemical Wholesale	17.4
Dr. Wolman GmbH	Subsidiary	Sinzheim, Baden-Württemberg	Germany	Wood Product Manufacturing		100
LUWOGE GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Real Estate Agents and Brokers		100
LUWOGE GmbH Haus Westerland	Unit	Ludwigshafen	Germany	Real Estate Agents and Brokers		35
LUWOGE GmbH Haus Breitnau	Unit	Breitnau	Germany	Real Estate Agents and Brokers		26
LUWOGE consult GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Real Estate Agents and Brokers		20
LUWOGE GmbH Studienhaus St. Johann	Unit	Albstadt	Germany	Real Estate Agents and Brokers
BASF Services Europe GmbH	Subsidiary	Berlin, Berlin	Germany	Employment Services		100
Basf Poliuretan Sanayi Ve Ticaret Ltd Sti	Subsidiary	Istanbul (Anatolia)	Turkey	Chemical Wholesale		41
BASF IT Services Holding GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Research and Development Services		20
BASF IT Services S.p.A.	Subsidiary	Cesano Maderno, MI	Italy	Computer System Design Services	4.3	30
Cognis Holding GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Holding Companies		6
BASF Personal Care and Nutrition GmbH	Subsidiary	Monheim Am Rhein, Nordrhein-Westfalen	Germany	Basic Chemical Manufacturing	1,719.2	5,572
Cognis Kimya San ve Tic AS	Subsidiary	Gebze, Kocaeli	Turkey	Paint, Coating, and Adhesive Manufacturing		133
Cognis International GmbH	Subsidiary	Monheim Am Rhein, Nordrhein-Westfalen	Germany	Holding Companies		7
Cognis Chemicals (Hk) Limited	Subsidiary	Kwun Tong, Kowloon	Hong Kong	Chemical Wholesale	1.7	17
Cognis B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Chemical Wholesale
Cognis Korea Ltd.	Subsidiary	Seoul, Seoul	Korea, Republic of	Chemical Wholesale	26.1	29
Cognis Holdings UK Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Professional Services
Basf UK Ltd.	Subsidiary	Southampton	United Kingdom	Basic Chemical Manufacturing	31.7	9
Cognis Speciality Organics Far East Ltd.	Subsidiary	Hampshire	United Kingdom	Basic Chemical Manufacturing
Cognis Pension Trustee Uk Ltd.	Subsidiary	Cheadle	United Kingdom	Pensions and Funds
Grunau Illertissen GmbH	Subsidiary	Illertissen, Bayern	Germany	Miscellaneous Chemical Manufacturing		2
Cognis IP Management GmbH	Subsidiary	Düsseldorf, Nordrhein-Westfalen	Germany	Legal Services	109.6
BASF Lizenz GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Investment Services	17.1	1
BASF Mobilienleasing GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing	17.1	1
GEWOGE Wohnungsunternehmen der BASF Gesellschaft mit beschränkter Haftung	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Residential and Commercial Building Construction		1
AXARON Bioscience AG	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Holding Companies		1
Ciba Specialty Chemicals (Pty) Ltd	Subsidiary	Kempton Park, Gauteng	South Africa	Chemical Wholesale	938.6
WINGAS Holding GmbH	Subsidiary	Kassel, Hessen	Germany	Investment Services	56.8	5
Basf Cork Limited	Subsidiary	Co Cork	Ireland	Chemical Wholesale	2.6	5
BASF Coating Services	Subsidiary	København S, 1	Denmark	Machinery and Equipment Manufacturing		5
BASF Panama S.A.	Subsidiary	Panama	Panama	Chemical Wholesale		5
BASF Metals GmbH	Subsidiary	Zug	Switzerland	Miscellaneous Chemical Manufacturing		5
De Mattos & Sullivan Limited	Subsidiary	Sliema	Malta	Miscellaneous Chemical Manufacturing		4
BASF IT Services Holding GmbH	Subsidiary	Ludwigshafen	Germany	Investment Services	635.6
BASF Vitamins Company Ltd.	Subsidiary	Shenyang	China	Pharmaceutical Manufacturing	31.2
BASF Services (Malaysia) Sdn. Bhd.	Subsidiary	Kuantan, Pahang Darul Makmur	Malaysia	Miscellaneous Chemical Manufacturing	4.7
Glasurit do Brasil Ltda.	Subsidiary	São Bernardo do Campo, SP	Brazil	Paint, Coating, and Adhesive Manufacturing
BASF de Guatemala S.A.	Subsidiary	Ciudad de Guatemala	Guatemala	Chemical Wholesale
BASF Türk Kimya Sanayi Ltd Sti	Subsidiary	Istanbul	Turkey	Petroleum Product Manufacturing
Basf Controls Ltd.	Subsidiary	Widnes	United Kingdom	Miscellaneous Professional Services
BASF East Asia Regional Headquarters Ltd.	Subsidiary	Central	Hong Kong	Holding Companies
BASF Japan Ltd.	Subsidiary	Tokyo	Japan	Miscellaneous Chemical Manufacturing		1,600
BASF India Ltd	Subsidiary	Mumbai	India	Basic Chemical Manufacturing	344.5	1,224
Basf India Limited	Branch	New Delhi, Delhi	India	Basic Chemical Manufacturing	303.2	1,000
BASF Pakistan (Private) Limited	Subsidiary	Karachi	Pakistan	Agricultural Chemical Manufacturing		106
BASF Chemicals and Polymers Pakistan (Private) Limited	Subsidiary	Karachi	Pakistan	Agricultural Chemical Manufacturing		211
BASF Bangladesh Limited	Subsidiary	Dhaka	Bangladesh	Basic Chemical Manufacturing		44
BASF Bangladesh Limited	Subsidiary	Chittagong	Bangladesh	Chemical Wholesale		6
Basf Polyurethanes India Limited	Subsidiary	Mumbai, Maharashtra	India	Paint, Coating, and Adhesive Manufacturing	44.7
BASF Company Limited	Subsidiary	Seoul, Jeollanam-do	Korea, Republic of	Basic Chemical Manufacturing	1,788.9	932
Daihan Swiss Chemical Corporation	Subsidiary	Seoul	Korea, Republic of	Basic Chemical Manufacturing		200
Basf South East Asia Pte. Ltd.	Subsidiary	Singapore	Singapore	Chemical Wholesale	6,254.5	650
BASF Singapore Pte. Ltd.	Subsidiary	Singapore	Singapore	Chemical Wholesale	58.7	550
BASF (Malaysia) Sdn Bhd	Subsidiary	Shah Alam, Selangor	Malaysia	Synthetic Chemical Manufacturing	252.0	473
BASF PETRONAS Chemicals Sdn. Bhd.	Subsidiary	Kuantan, Pahang Darul Makmur	Malaysia	Basic Chemical Manufacturing		1,500
BASF Petronas Chemicals Bhd	Joint Venture	Shah Alam, Selangor	Malaysia	Basic Chemical Manufacturing	1,129.3	900
Basf (Malaysia) Sdn. Bhd.	Branch	Pasir Gudang, Johor	Malaysia	Basic Chemical Manufacturing	318.8	180
Basf (Malaysia) Sdn. Bhd.	Branch	Klang, Selangor	Malaysia	Nonclassifiable Establishments
BASF Asia-Pacific Service Centre Sdn Bhd	Subsidiary	Kuala Lumpur	Malaysia	Consulting Services
BASF Polyurethanes (Malaysia) Sdn. Bhd.	Subsidiary	Shah Alam, Selangor	Malaysia	Rubber and Plastic Product Manufacturing
BASF See Sen Sdn. Bhd.	Joint Venture	Kemaman	Malaysia	Miscellaneous Chemical Manufacturing
BASF (Thai) Limited	Subsidiary	Bangkok	Thailand	Basic Chemical Manufacturing		175
Santoku BASF Pte. Ltd.	Joint Venture	Singapore	Singapore	Miscellaneous Chemical Manufacturing		60
BASF Australia Limited	Subsidiary	Southbank, VIC	Australia	Basic Chemical Manufacturing	300.9	550
BASF New Zealand Ltd.	Subsidiary	Auckland	New Zealand	Chemical Wholesale		35
Ciba (Australia) Pty Limited	Subsidiary
BASF China Ltd.	Subsidiary	Central	Hong Kong	Miscellaneous Chemical Manufacturing		300
BASF Taiwan Limited	Subsidiary	Taipei	Taiwan	Chemical Wholesale		600
BASF Electronic Materials Taiwan	Subsidiary	Taoyuan	Taiwan	Miscellaneous Chemical Manufacturing		100
BASF (China) Co., Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing		400
BASF (China) Co Ltd	Branch	Beijing	China	Pharmaceutical Manufacturing	8,066.2	6,500
BASF Hong Kong Limited	Subsidiary	Hong Kong	Hong Kong	Basic Chemical Manufacturing		200
BASF (China) Co., Ltd. - Guangzhou	Branch	Guangzhou, Guangzou	China	Miscellaneous Chemical Manufacturing		350
Basf Construction Chemicals (Sichuan) Co. Ltd.	Subsidiary	Meishan, Sichuan	China	Miscellaneous Chemical Manufacturing	22.0	50
BASF-JCIC Neopentylglycol Co. Ltd.	Joint Venture	Jilin	China	Pharmaceutical Manufacturing		50
BASF Auxiliary Chemicals Co. Ltd.	Subsidiary	Shanghai	China	Basic Chemical Manufacturing
Shanghai BASF Polyurethane Co., Ltd.	Joint Venture	Shanghai	China	Synthetic Chemical Manufacturing
BASF Chemicals (Shanghai) Co., Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
Hythe Chemicals Ltd.	Subsidiary	Southampton	United Kingdom	Nonclassifiable Establishments
Basf It Services Holding Ltd.	Subsidiary	Cheadle	United Kingdom	Nonclassifiable Establishments
Basf It Services Ltd.	Subsidiary	Cheadle	United Kingdom	Computer System Design Services	5.7	33
Interlates Ltd.	Subsidiary	Cheadle	United Kingdom	Miscellaneous Chemical Manufacturing
Metalfx Technology Ltd.	Subsidiary	Cheadle	United Kingdom	Nonclassifiable Establishments
Ciba Holding Nederland B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Investment Services
BASF Ltd.	Subsidiary	Cairo	Egypt	Chemical Wholesale
BASF Pozzolith Ltd.	Subsidiary	Tokyo	Japan	Construction and Hardware Materials Wholesale
BASF Bolivia S.R.L.	Subsidiary	Santa Cruz	Bolivia	Chemical Wholesale
Basf Panama S.A.	Subsidiary	Panama City, Panama	Panama	Chemical Wholesale
BASF Plant Science Company GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Insurance Agents
BASF Plant Science Company GmbH	Subsidiary	Ludwigshafen Am Rhein, Rheinland-Pfalz	Germany	Holding Companies	2.6	120
SunGene GmbH	Subsidiary	Gatersleben, Sachsen-Anhalt	Germany	Research and Development Services	6.6	700
BASF Plant Science LP	Subsidiary	Research Triangle Park, NC	United States	Agricultural Chemical Manufacturing		600
BASF Corp. - Palmyra (Hannibal) Agricultural Products Plant	Facility	Palmyra, MO	United States	Agricultural Chemical Manufacturing	38.2	310
BASF Agricultural Products de Puerto Rico	Facility	Manati, PR	United States	Agricultural Chemical Manufacturing	0.3	200
BASF Corp. - Beaumont Agricultural Products Plant	Facility	Beaumont, TX	United States	Agricultural Chemical Manufacturing	11.1	165
Becker Underwood, Inc.	Subsidiary	Ames, IA	United States	Agricultural Chemical Manufacturing		479
Nitral Urbana Laboratorios Ltda	Subsidiary	Pinhais, Parana	Brazil	Agricultural Chemical Manufacturing	4.7	93
Becker Underwood Inc	Branch	St Joseph, MO	United States	Food Manufacturing	10.8	20
Becker Underwood Sas	Subsidiary	Colomiers	France	Basic Chemical Manufacturing	12.4	14
Becker Underwood Inc	Branch	Caldwell, ID	United States	Food Manufacturing	4.4	11
BASF Plant Science GmbH	Subsidiary	Limburgerhof	Germany	Agricultural Chemical Manufacturing		120
DNA LandMarks Inc.	Subsidiary	Saint-Jean-sur-Richelieu, QC	Canada	Miscellaneous Personal Services		48
Plant Science Sweden AB	Subsidiary	Svalov	Sweden	Agricultural Chemical Manufacturing
Metanomics GmbH	Subsidiary	Berlin, Berlin	Germany	Research and Development Services	2.6	100
BASF Schweiz AG	Subsidiary	Basel	Switzerland	Miscellaneous Chemical Manufacturing
BASF Innovationsfonds GmbH	Subsidiary	Ludwigshafen	Germany	Research and Development Services
NOF (Thailand) Ltd.	Subsidiary	Bangkok	Thailand	Miscellaneous Chemical Manufacturing
Basf De Nicaragua S.A.	Subsidiary	Managua, Managua	Nicaragua	Agricultural Chemical Manufacturing
HEMOMAK HEM Uros DOOEL	Subsidiary	Veles	Macedonia	Miscellaneous Chemical Manufacturing
BASF Ecuatoriana S.A.	Subsidiary	Quito	Ecuador	Chemical Wholesale
BASF Afrique de l'Ouest S.A.R.L.	Subsidiary	Abidjan	Cote d'Ivoire	Chemical Wholesale
Chemcontrol Limited	Subsidiary	San Fernando	Trinidad and Tobago	Basic Chemical Manufacturing
Kartal Kimya Sanayi ve Ticaret A.S.	Subsidiary	Gebze	Turkey	Miscellaneous Chemical Manufacturing
M/s. Amaravati International	Subsidiary	Kathmandu, Tahachal	Nepal	Chemical Wholesale
Wilhelm Rosenstein Ltd.	Subsidiary	Herzliyya	Israel	Miscellaneous Chemical Manufacturing
BASF Pigment GmbH	Subsidiary	Cologne	Germany	Miscellaneous Chemical Manufacturing
BASF SE - Laenderbereich Vertrieb Europe	Unit	Ludwigshafen	Germany	Chemical Wholesale
BASF Stavebni hmoty Ceska republika s.r.o.	Subsidiary	Chrudim	Czech Republic	Miscellaneous Chemical Manufacturing
BASF Hellas S.A.	Subsidiary	Athens	Greece	Agricultural Chemical Manufacturing
BASF de Mexico S.A. de C.V.	Subsidiary	Mexico	Mexico	Miscellaneous Chemical Manufacturing
Basf Mexicana, S.A. De C.V.	Subsidiary	Ciudad De Mexico, Distrito Federal	Mexico	Basic Chemical Manufacturing	728.7
Basf Mexicana, S.A. De C.V.	Branch	Monterrey, Nuevo Leon	Mexico	Basic Chemical Manufacturing		15
Basf Mexicana, S.A. De C.V.	Branch	Guadalajara, Jalisco	Mexico	Chemical Wholesale		13
Styrolution Mexicana S.A. de C.V.	Subsidiary	Mexico	Mexico	Miscellaneous Chemical Manufacturing
Wintershall Petroleum (E&P) B.V.	Subsidiary	Rijswijk, Zuid-Holland	Netherlands	Petroleum and Natural Gas Extraction
Engelhard Arganda S.L.	Subsidiary	Madrid	Spain	Chemical Wholesale
Ciba Spezialitatenchemie Finanz AG	Subsidiary	Basel	Switzerland	Chemical Wholesale
PCI Bauprodukte AG	Subsidiary	Zurich	Switzerland	Construction and Hardware Materials Wholesale
Lucura Ruckversicherungs AG	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Insurance Agents
BASF Plastic Additives Middle East S.P.C.	Subsidiary	Hidd	Bahrain	Rubber and Plastic Product Manufacturing
Tasfiye Halinde Meges Boya Sanayi ve Ticaret A.S.	Subsidiary	Istanbul	Turkey	Miscellaneous Wholesale
OPAL NEL TRANSPORT GmbH	Subsidiary	Kassel	Germany	Pipeline Transportation
Oliver Warehouse Inc.	Subsidiary	Winchester, KY	United States	Storage and Warehousing
BASF Kaspian Yapi kimyasallari Sanayi mehud mesuliyyetli cemiyyeti	Subsidiary	Sumgayit	Azerbaijan	Construction and Hardware Materials Wholesale
BASF Hellas Industrial and Commercial S.A.	Subsidiary	Athens	Greece	Miscellaneous Chemical Manufacturing
BASF Interservicios S.A. de C.V.	Subsidiary	Mexico	Mexico	Consulting Services
Projektentwicklungs-GmbH Friesenheimer Insel	Subsidiary	Essen, Nordrhein-Westfalen	Germany	Chemical Wholesale
Wintershall Chile Lda.	Subsidiary	Santiago	Chile	Petroleum and Natural Gas Extraction
Azuma Bussan Ltd.	Subsidiary	Koriyama, Fukushima	Japan	Miscellaneous Chemical Manufacturing
Taiko Shoji Ltd.	Subsidiary	Tokorozawa, Saitama	Japan	Construction and Hardware Materials Wholesale
WINGAS Verwaltungs-GmbH	Subsidiary	Kassel	Germany	Investment Services
Cognis Trust Management GmbH	Subsidiary	Dusseldorf, Nordrhein-Westfalen	Germany	Consulting Services
Relius Coatings Beteiligungs-GmbH	Subsidiary	Oldenburg, Niedersachsen	Germany	Paint, Coating, and Adhesive Manufacturing
BASF Ludwigshafen Grundbesitz SE & Co. KG	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Consulting Services
Wintershall Vermogensverwaltungsgesellschaft mbH	Subsidiary	Kassel, Hessen	Germany	Petroleum and Natural Gas Extraction
Metanomics Health GmbH	Subsidiary	Berlin	Germany	Ambulatory Services
Wintershall Wolga Petroleum GmbH	Subsidiary	Kassel, Hessen	Germany	Petroleum and Natural Gas Extraction
Wintershall Norwegen Explorations- und Produktions- GmbH	Subsidiary	Kassel	Germany	Petroleum and Natural Gas Extraction
BASF Americas Corporation	Subsidiary	Florham Park, NJ	United States	Chemical Wholesale
BASF Catalysts Holding LLC	Subsidiary	Florham Park, NJ	United States	Investment Services
BASF Metasheen	Subsidiary	Smiths Falls, ON	Canada	Chemical Wholesale
BASF Qtech Inc.	Subsidiary	Mississauga, ON	Canada	Paint, Coating, and Adhesive Manufacturing
BASF Performance Products Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
Basf Gao-Qiao Performance Chemicals (Shanghai) Co., Ltd	Subsidiary	Shanghai, Shanghai	China	Basic Chemical Manufacturing	68.4	200
Jordanian Swiss Company for Manufacturing & Marketing Construction Chemicals Company Ltd.	Subsidiary	Amman	Jordan	Miscellaneous Chemical Manufacturing
BASF watertechnologies Beteiligungs GmbH	Subsidiary	Schwarzheide	Germany	Miscellaneous Chemical Manufacturing
Elastogran Innovationsprojekte Beteiligungsgesellschaft mbH	Subsidiary	Lemforde	Germany	Miscellaneous Chemical Manufacturing
BASF Cork Ltd.	Subsidiary	Clonee, Meath	Ireland	Agricultural Chemical Manufacturing
Wintershall Exploration and Production International C.V.	Subsidiary	Rijswijk, South Holland	Netherlands	Petroleum and Natural Gas Extraction
ProCat Testing LLC	Subsidiary	Wixom, MI	United States	Architecture and Engineering
Mustang Property Corporation	Subsidiary	Fort Lauderdale, FL	United States	Real Estate Agents and Brokers
Ultraform Verwaltungsgesellschaft mbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Chemical Wholesale
BPG Immobilien GmbH	Subsidiary	Ludwigshafen	Germany	Real Estate Agents and Brokers
SGS-Schwarzheider Gastronomie und Service GmbH	Subsidiary	Schwarzheide	Germany	Restaurants and Bars
LUCARA Immobilienverwaltungs GmbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Real Estate Agents and Brokers
BNC Color Techno Co. Ltd.	Subsidiary	Yokohama, Kanagawa	Japan	Paint, Coating, and Adhesive Manufacturing
Lig Ace Co. Ltd.	Subsidiary	Fukui	Japan	Miscellaneous Chemical Manufacturing
BASF Catalysts (Guilin) Co. Ltd.	Subsidiary	Guilin, Guangxi Zhuang	China	Electromedical and Control Instruments Manufacturing
BASF Construction Chemicals Grundbesitz GmbH & Co. KG	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing
BASF Construction Chemicals (China) Co. Ltd.	Subsidiary	Shanghai	China	Chemical Wholesale
BASF Polyurethane Specialties (China) Co. Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
BASF Care Chemicals (Shanghai) Co. Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
BASF Asia Pacific (India) Pvt. Ltd.	Subsidiary	Mumbai	India	Agricultural Chemical Manufacturing
Basf Catalysts India Private Limited	Subsidiary	Chennai, Tamil Nadu	India	Basic Chemical Manufacturing	144.3
Basf Styrenics Holding Company	Subsidiary		Mauritius	Nonclassifiable Establishments
Basf Styrenics Private Limited	Subsidiary	Mumbai, Maharashtra	India	Synthetic Chemical Manufacturing	77.9
Lipogene AB	Subsidiary	Svalov, Skane	Sweden	Research and Development Services
BASF Representation Belarus	Subsidiary	Minsk	Belarus	Miscellaneous Chemical Manufacturing
BASF Metals (Shanghai) Co. Ltd.	Subsidiary	Shanghai	China	Metals and Minerals Wholesale
BASF Paper Chemicals (Jiangsu) Co. Ltd.	Subsidiary	Zhenjiang, Jiangsu	China	Miscellaneous Chemical Manufacturing
BASF Construction Systems (China) Co. Ltd.	Subsidiary	Shanghai	China	Miscellaneous Chemical Manufacturing
BASF Akquisitions- und Objektverwertungsgesellschaft mbH	Subsidiary	Ludwigshafen	Germany	Consulting Services
BASF Biorenewable Beteiligungs GmbH & Co. KG	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing
BASF Catalysts Grundbesitz GmbH	Subsidiary	Ludwigshafen	Germany	Miscellaneous Chemical Manufacturing
BASF Battery Technology Investment GmbH & Co. KG	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Investment Services
BASF Beteiligungsgesellschaft mbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Miscellaneous Chemical Manufacturing
BASF Chemikalien GmbH	Subsidiary	Ludwigshafen	Germany	Miscellaneous Chemical Manufacturing
Zweite BASF Immobilien-Gesellschaft mbH	Subsidiary	Ludwigshafen	Germany	Real Estate Agents and Brokers
Wintershall Russia Holding GmbH	Subsidiary	Kassel, Hessen	Germany	Investment Services
Wintershall Nederland Transport and Trading B.V.	Subsidiary	Rijswijk, South Holland	Netherlands	Petroleum and Natural Gas Extraction
Funfzehnte BASF Projektentwicklungsgesellschaft mbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Consulting Services
Funfzehnte BASF Finanzbeteiligungsgesellschaft mbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Investment Services
Funfzehnte BASF Erwerbsgesellschaft mbH	Subsidiary	Ludwigshafen	Germany	Chemical Wholesale
Elfte BASF Projektentwicklungsgesellschaft mbH	Subsidiary	Ludwigshafen	Germany	Consulting Services
BASF Agro Trademarks GmbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Consulting Services
BASF watertechnologies GmbH & Co. KG	Subsidiary	Ludwigshafen	Germany	Chemical Wholesale
BASF VC Beteiligungs- und Managementgesellschaft	Subsidiary	Ludwigshafen	Germany	Investment Services
BASF US Verwaltung GmbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Chemical Wholesale
BASF Immobilien-Gesellschaft mbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Real Estate Agents and Brokers
BASF Immobilien Pigment GmbH	Subsidiary	Ludwigshafen	Germany	Miscellaneous Chemical Manufacturing
P.T. BASF Care Chemicals Indonesia	Subsidiary	Depok	Indonesia	Miscellaneous Chemical Manufacturing
BASF Finance Malta GmbH	Subsidiary	Ludwigshafen	Germany	Investment Services
BASF California Inc.	Subsidiary	Florham Park, NJ	United States	Chemical Wholesale
BASF Catalysts Delaware LLC	Subsidiary	Florham Park, NJ	United States	Miscellaneous Chemical Manufacturing
BASF Catalyst Canada ULC	Subsidiary	Mississauga, ON	Canada	Miscellaneous Chemical Manufacturing
BASF Catalysts Holding China LLC	Subsidiary	Florham Park, NJ	United States	Investment Services
BASF Construction Canada Holdings Inc.	Subsidiary	Mississauga, ON	Canada	Investment Services
Engelhard Power Marketing Inc.	Subsidiary	Iselin, NJ	United States	Electricity Generation and Distribution
Engelhard Asia Pacific LLC	Subsidiary	Iselin, NJ	United States	Chemical Wholesale
BASF Venture Capital America Inc.	Subsidiary	Fremont, CA	United States	Investment Services
BASF Fina Petrochemicals LP	Subsidiary	Florham Park, NJ	United States	Basic Chemical Manufacturing
Engelhard Energy Corporation	Subsidiary	Iselin, NJ	United States	Chemical Wholesale
BASF Pipeline Holdings LLC	Subsidiary	Florham Park, NJ	United States	Investment Services
BASF Investments Canada Inc.	Subsidiary	Blackie, AB	Canada	Investment Services
BASF Construction Chemicals Algeria S.A.R.L.	Subsidiary	Algiers	Algeria	Miscellaneous Chemical Manufacturing
BASF Properties Inc.	Subsidiary	Etobicoke, ON	Canada	Real Estate Agents and Brokers
BASF Catalysts NL Finance C.V.	Subsidiary	Arnhem	Netherlands	Investment Services
BASF Coatings Services S.A.	Subsidiary	Prior Velho	Portugal	Miscellaneous Wholesale
BASF Engelhard UK B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
BASF Operations B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Chemical Manufacturing
BASF Catalysts Canada B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard Finland B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard Germany B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard Sweden B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard Switzerland B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Chemical Manufacturing
BASF Catalysts Asia B.V.	Subsidiary	Arnhem	Netherlands	Investment Services
BASF Catalysts Holding Asia B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Investment Services
BASF Taiwan B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard Italy B.V.	Subsidiary	Arnhem	Netherlands	Miscellaneous Chemical Manufacturing
BASF Engelhard South Africa B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Miscellaneous Chemical Manufacturing
Esuco Beheer B.V.	Subsidiary	Arnhem, Gelderland	Netherlands	Investment Services
Engelhard Peru S.A.	Subsidiary	Lima	Peru	Non-Metallic Minerals Mining
BASF IT Services S.A.	Subsidiary	Tarragona	Spain	Computer System Design Services
BASF Construction Chemicals Limitada	Subsidiary	Pudahuel, Santiago	Chile	Miscellaneous Chemical Manufacturing
Gewerkschaft des konsolidierten Steinkohlenbergwerks Breitenbach GmbH	Subsidiary	Ludwigshafen, Rheinland-Pfalz	Germany	Coal Mining
Automotive Refinish Technologies LLC	Subsidiary	Southfield, MI	United States	Miscellaneous Wholesale

BASF SE

Competitors Report

CompanyName	Location	Employees	Ownership
Air Products & Chemicals, Inc.	Allentown, Pennsylvania, United States	20,900	Public
Akzo Nobel N.V.	Amsterdam, Netherlands	55,590	Public
Albemarle Corporation	Baton Rouge, Louisiana, United States	4,000	Public
Archer Daniels Midland Company	Decatur, Illinois, United States	30,600	Public
Arkema SA	Colombes, France	14,000	Public
Bayer AG	Leverkusen, Germany	111,400	Public
BP plc	London, United Kingdom	85,700	Public
China Petroleum & Chemical Corp	Beijing, China	376,201	Public
Clariant AG	Muttenz, Switzerland	21,202	Public
Clariant Chemicals (India) Ltd.	Thane, India	1,077	Public
E I Du Pont De Nemours And Co	Wilmington, Delaware, United States	70,000	Public
Eastman Chemical Company	Kingsport, Tennessee, United States	13,500	Public
Eisai Co., Ltd	Bunkyo-Ku, Japan	10,495	Public
Exxon Mobil Corporation	Irving, Texas, United States	76,900	Public
FMC Corp	Philadelphia, Pennsylvania, United States	5,700	Public
Givaudan S.A.	Vernier, Switzerland	9,266	Public
Huntsman Corporation	Salt Lake City, Utah, United States	12,000	Public
Johnson Matthey PLC	London, United Kingdom	10,605	Public
KANSAI PAINT CO., LTD.	Osaka-Shi, Japan	11,409	Public
Koninklijke Ahold N.V.	Amsterdam, Netherlands	125,000	Public
LG Chem Ltd	Seoul, Korea, Republic of	12,207	Public
Monsanto Company	St. Louis, Missouri, United States	21,500	Public
NIPPON PAINT CO., LTD.	Osaka-Shi, Japan	5,888	Public
NIPPON SHOKUBAI CO., LTD.	Osaka-Shi, Japan	3,938	Public
PPG Industries, Inc.	Pittsburgh, Pennsylvania, United States	39,200	Public
Royal Dutch Shell Plc	's-Gravenhage, Netherlands	87,000	Public
Sasol Limited	Johannesburg, South Africa	34,857	Public
Syngenta AG	Basel, Switzerland	27,000	Public
The Dow Chemical Company	Midland, Michigan, United States	52,714	Public
Total SA	Courbevoie, France	97,126	Public
Umicore SA	Bruxelles, Belgium	14,280	Public
Yara International ASA	Oslo, Norway	8,052	Public

BASF SE Ludwigshafen Am Rhein, , Germany, Tel: 49-621-600, URL: http://www.basf.com, Executives Page

Executives Report

Board of Directors

Name	Title	Function
Kurt Bock	Chairman of the Board of Executive Directors	Chairman
Biography: Dr. Kurt W. Bock has served as Chairman of the Board of Executive Directors at BASF SE since May 6, 2011. He is responsible for various areas at the Company, including Legal, Taxes & Insurance; Strategic Planning & Controlling; Communications & Government Relations; Global HR – Executive Management & Development; Investor Relations and Compliance at the Company. Prior to that, he served as Chief Financial Officer and Member of the Executive Board at the Company since May 6, 2003 and from 2007 onwards he also acted as Chairman and Chief Executive Officer of BASF Corporation, New Jersey, U.S. In 1985, Dr. Bock joined BASF Aktiengesellschaft in the Finance division. In 1987, he was appointed Executive Assistant to BASF's Chief Financial Officer. In 1991, he became Head of Technology, Director Planning and Controlling, Engineering Plastics divisions at the Company. Then, in 1992, Dr. Bock was appointed Senior Vice President of Finance and Accounting at Robert Bosch GmbH, Stuttgart, Germany, where from 1994 onwards, he acted as Senior Vice President of Finance and Accounting. In 1996, he took the position of Managing Director at Robert Bosch Limitada, Campinas, Brazil. Dr. Bock began to act as Chief Financial Officer at BASF Corporation, New Jersey in 1998 and in 2000 he was appointed President of Logistics and Information Services. Dr. Bock also served as Member of the Supervisory Board at Wintershall Holding GmbH until March 31, 2010. Between 1977 and 1982, Dr. Bock studied Business Administration at Westfaelische Wilhelms-Universitaet Muenster and Universitaet zu Koeln as well as at Pennsylvania State University. After three years in research, he received his Doctorate in Economics from Friedrich-Wilhelms-Universitaet Bonn. Age: 55 Education: Friedrich-Wilhelms-Universitaet Bonn, PHD (Economics) Westfaelische Wilhelms-Universitaet Muenster (Business Administration) Pennsylvania State University (Business Administration) Compensation/Salary:1,200,000 Compensation Currency: EUR
Juergen F. Strube	Honorary Chairman of the Board	Chairman	Reuters
Biography: Prof. Dr. Juergen Strube has been appointed as Honorary Chairman of the Supervisory Board at BASF SE as of April 30, 2009. Before that, he acted as Chairman of the Supervisory Board of BASF SE from May 2003 until April 30, 2009. Prof. Dr. Strube is former Chairman of the Board of Executive Directors of BASF Aktiengesellschaft. Until March 17, 2009 he was active as Supervisory Board Member at Hapag-Lloyd AG and until April 2, 2009 at Allianz Deutschland AG. He also served as Member of the Supervisory Board at Commerzbank AG until May 15, 2008 and Linde AG until June 3, 2008. He occupies the position of Chairman of the Supervisory Board at Fuchs Petrolub AG. Prof. Dr. Strube is also Deputy Chairman of the Supervisory Board of Bayerische Motoren Werke AG as well as Bertelsmann AG. He studied Law, from 1960 to 1964, in Freiburg, Germany, Geneva, Switzerland and Munich, Germany, and he obtained his Doctorate in law in Munich in 1967, and passed the 2nd state examination in law in 1968. Prof. Dr. Strube joined the Finance Department of BASF Aktiengesellschaft, Ludwigshafen in 1969 and has held various positions at the Company since then. Age: 73 Compensation/Salary:50,000 Compensation Currency: EUR
Martin Brudermüller	Vice Chairman of the Board of Executive Directors	Vice-Chairman
Biography: Dr. Martin Brudermueller has been Vice Chairman of the Board of Executive Directors at BASF SE since May 6, 2011. In the Company, Dr. Brudermueller is responsible for the divisions Performance Polymers; Polyurethanes and Styrenics as well as for Market & Business Development Asia Pacific and Regional Functions & Country Management Asia Pacific headquartered in Hong Kong. Prior to that, he acted as Member of the Executive Board at the Company since January 2006. Dr. Brudermueller joined BASF AG's Ammonia Laboratory to work in chemical research in 1988. In 1993, he worked in the New business development/marketing and Intermediates division. In 1995, he was delegated to BASF Italia Spa, Milan, Italy, as Head of Marketing and Sales Intermediates, pharmaceutical chemicals. In 1997, Dr. Brudermueller became Executive Assistant to the Vice Chairman of the Board of Executive Directors, Chemicals. In 1999, he became Director of Production fat-soluble vitamins in the Fine Chemicals division. In 2001, he was appointed Senior Vice President, Strategic Planning at BASF Group and in 2003 Dr. Brudermueller began to act as President in the Functional Polymers division. He studied chemistry at Universitaet Karlsruhe. Since October 1, 2011, he has been Deputy Chairman of Advisory Board at Styrolution Holding GmbH. He took his Doctorate and spent a post doctorate period at the University of California, Berkeley. Age: 52 Education: University of California, PHD Universitaet Karlsruhe (Chemistry) Compensation/Salary:868,000 Compensation Currency: EUR
Ralf-Gerd Bastian	Member of the Supervisory Board, Employee Representative	Director/Board Member
Biography: Mr. Ralf-Gerd Bastian has been Member of the Supervisory Board and Employee Representative of BASF SE since April 30, 2009. Additionally, he acts as Member of the Audit Committee of the Company. He also serves as Member of the Works Council of the Ludwigshafen site of BASF SE. Age: 57 Education: University of Exeter Compensation/Salary:60,000 Compensation Currency: EUR
Wolfgang Daniel	Deputy Chairman of the Works Council	Director/Board Member	OSX
Biography: Mr. Wolfgang Daniel has been Member of the Supervisory Board of BASF SE since 1996 and Employee Representative since April 30, 2009. He is Deputy Chairman of the Works Council of the Ludwigshafen site of BASF SE. Age: 56 Compensation/Salary:60,000 Compensation Currency: EUR
Francois N. Diederich	Member of the Supervisory Board	Director/Board Member
Biography: Prof. Dr. Francois N. Diederich has been Member of the Supervisory Board at BASF SE since 1998. Additionally, he acts as Member of the Nomination Committee of the Company. He is Professor at the Swiss Federal Institute of Technology, Zurich. Prof. Dr. Diederich received his diploma in 1977 and his Doctoral degree (Dr. rer. nat.) in 1979 from the University of Heidelberg (Ruprecht-Karls-Universitaet Heidelberg). Following postdoctoral studies at the University of California at Los Angeles (UCLA) from 1979 to 1981, he was a research associate at the Max-Planck-Institute for medical research in Heidelberg. After his habilitation in 1985, he joined the faculty of the Department of Chemistry and Biochemistry at UCLA as an associate professor (1985-1989) and as a full professor (1989-1992). Since April 1992, he has been a professor of organic chemistry at ETH Zurich. Prof. Dr. Diederich received the Otto Hahn Medal of the Max- Planck-Society (1979), the Dreyfus Teacher-Scholar Award (1987), the ACS Arthur C. Cope Scholar Award (1992), the Otto-Bayer-Preis fuer Chemie (1993), the Janssen Prize for Creativity in Organic Synthesis (2000) and the Havinga Medal (2000), the Humboldt Research Prize (2005), the Burkhard-Helferich Prize (2005), the August-Wilhelm-von-Hofmann-Denkmuenze (GDCh, 2006), and the ACS Ronald Breslow Award for Achievements in Biomimetic Chemistry (2007). He is a member of the Deutsche Akademie der Naturforscher Leopoldina, the American Academy of the Arts and Sciences, the Berlin-Brandenburgische Akademie der Wissenschaften (BBAW), and the Real Academia Espanola de Ciencias. Age: 61 Education: University of California, Los Angeles Ruprecht-Karls-Universitaet Heidelberg, PHD Ruprecht-Karls-Universitaet Heidelberg Compensation/Salary:60,000 Compensation Currency: EUR
Michael Diekmann	Deputy Chairman of the Supervisory Board	Director/Board Member
Biography: Mr. Michael Diekmann has been Deputy Chairman of the Supervisory Board at BASF SE since March 4, 2008. In addition, he acts as Member of the Company's Personnel Committee as well as Nomination Committee. He joined the BASF SE's Supervisory Board as a Member on March 11, 2003. Until January 12, 2009, he was also Chairman of the Supervisory Board of Dresdner Bank AG. Until April 29, 2008, he was Member of the Supervisory Board at Lufthansa AG. He is Supervisoy Board Deputy Chairman of Linde AG and Supervisory Board Member of Siemens AG. He is also Supervisory Board Member of Allianz Deutschland AG and Supervisory Board Chairman of Allianz Global Investors AG. Furthermore, he serves as Deputy Chairman of the Administrative Council of Allianz France S.A. and Member of the Administrative Council of Alllianz SpA. Age: 58 Education: Georg-August-Universitaet Goettingen, LLB (Law) Georg-August-Universitaet Goettingen, BA (Philosophy) Compensation/Salary:90,000 Compensation Currency: EUR
Hans-Ulrich Engel	Chief Financial Officer	Director/Board Member
Biography: Dr. Hans-Ulrich Engel, Ph.D., has been Chief Financial Officer and Member of the Board of Executive Directors at BASF SE since 2011. In the Company, Dr. Engel is responsible for Finance, Catalysts, Market & Business Development North America, Regional Functions North America, Information Services, Corporate Controlling and Corporate Audit. In addition to that, he acts as Chairman and Chief Executive Officer of BASF Corporation, Florham Park, New Jersey, the United States. Prior to the current position in the Company, he acted as Member of the Executive Board, responsible for Oil and Gas, Europe and Global Procurement & Logistics since March 4, 2008. He was previously General Counsel of the Company. Dr. Engel joined Legal Department of BASF Aktiengesellschaft in 1988. In 1993, he was delegated to BASF Corporation in North America. It was in 1994, when he returned to Legal Department of BASF Aktiengesellschaft, where in 1996, he became Assistant to the Chairman and Chief Executive Officer. In 1997, Dr. Engel began to act as Managing Director of BASF Schwarzheide GmbH. In 2000, he was appointed as Executive Vice President and Chief Financial Officer of BASF Corporation in North America and President, Regional Functions North America. He acted as Chairman of the Supervisory Board at Wintershall Holding GmbH and Wintershall AG until May 6, 2011. In adddition, he served as Member of the Shareholders' Committee at Nord Stream AG until September 15, 2011. Currently, he sits on the Supervisory Board of BASF Personal Care and Nutrition GmbH. He studied law at Goettingen (Georg-August-Universitaet Goettingen) and Freiburg (Albert-Ludwigs-Universitaet Freiburg) Universities from 1977 until 1983. He completed in-service training from 1984 until 1987 at the Higher Regional Court, Oldenburg, Germany, before earning his Doctorate at Georg-August-Universitaet Goettingen. He holds a degree in Law from Albert-Ludwigs-Universitaet Freiburg as well as Georg-August-Universitaet Goettingen. Age: 54 Education: Georg-August-Universitaet Goettingen, PHD Albert-Ludwigs-Universitaet Freiburg (Law) Georg-August-Universitaet Goettingen (Law) Compensation/Salary:708,000 Compensation Currency: EUR
Franz Fehrenbach	Member of the Supervisory Board	Director/Board Member
Biography: Mr. Franz Fehrenbach has been Member of the Supervisory Board at BASF SE since January 14, 2008. Additionally, he acts as Member of the Audit Committee as well as Nomination Committee of the Company. Mr. Fehrenbach occupies the position of Chairman of the Management Board at Robert Bosch GmbH and is Member of the Board at Robert Bosch Corporation. Age: 64 Education: Universitaet Karlsruhe (Industrial Engineering) Compensation/Salary:60,000 Compensation Currency: EUR
Michael Heinz	Member of the the Board of Executive Directors	Director/Board Member
Biography: Mr. Michael Heinz has been Member of the Board of Executive Directors at BASF SE since May 6, 2011. In the Company, he is responsible for the divisions Dispersions & Pigments; Care Chemicals; Nutrition & Health; Paper Chemicals; Performance Chemicals and Advanced Materials & Systems Research. He joined BASF AG in 1984. In 1986 he became to be involved in Marketing Fine Chemicals at the Company, which led him to the position of Product Manager Fine Chemicals, BASF Corporation, Parsippany, New Jersey, U.S in 1989. From 1995 to 1996, he acted as Business Manager in the Consumer Products and Life Science division, as well as Manager Reporting and Controlling at BASF Corporation. In 1996, he was appointed General Manager of BASF Ecuatoriana S.A., Quito, Ecuado and in 1997 he became Director Marketing Crop Protection, BASF Corporation, Research Triangle Park, North Carolina, U.S. It was in 1999, when he began to serve as President and General Manager of BASF de Mexico S.A. and BASF Central America and the Caribbean, Mexico City, Mexico. Between 2002 and 2005, he acted as President Agricultural Products division, renamed Crop Protection division at the beginning of 2008 at BASF Aktiengesellschaft. From 2009 to 2010, Mr. Heinz was Chief Executive Officer and Integration Lead Ciba AG, Basel, Switzerland. In 2010, he became Integration Lead Cognis GmbH. Since May 7, 2011, he has also acted as Member of the Supervisory Board of BASF Coatings GmbH and BASF Personal Care and Nutrition GmbH, where since May 11, 2011, he has held the function of Chairman of the Supervisory Board. In 1987, Mr. Heinz received his degree in Business Administration from Fachhochschule Ludwigshafen (the College of Applied Sciences in Ludwigshafen, Germany), and in 2000 his Master of Business Administration (MBA) from Duke University, North Carolina, U.S. Age: 49 Education: Duke University, MBA Fachhochschule Ludwigshafen (Business Administration) Compensation/Salary:600,000 Compensation Currency: EUR
Max Dietrich Kley	Member of the Supervisory Board	Director/Board Member
Biography: Mr. Max Dietrich Kley has been Member of the Supervisory Board at BASF SE since 2003. In addition, he acts as Chairman of the Audit Committee and as Member of the Nomination Committee at the Company. Mr. Kley is a retired attorney at law. He is also the retired Deputy Chairman of the Management Board of BASF Aktiengesellschaft. Until February 11, 2010 Mr. Kley occupied the position of Chairman of the Supervisory Board at Infineon Technologies AG and was Member of the Supervisory Board of Schott AG until September 30, 2009. Furthermore, he acted as Member of the Board of Directors at Unicredito Italiano S.p.A. until April 29, 2009. Currently, Mr. Kley serves as Supervisory Board Member at HeidelbergCement AG and is also active as Chairman of the Supervisory Board at SGL Carbon SE. Age: 73 Education: Ludwig-Maximilians-Universitaet Muenchen (Law) Universitat Heidelberg (Law) Universite de Paris (Law) Compensation/Salary:60,000 Compensation Currency: EUR
Andreas Kreimeyer	Member of the the Board of Executive Directors, Research Executive Director	Director/Board Member
Biography: Dr. Andreas Kreimeyer has been Member of the Board of Executive Directors at BASF SE since January 1, 2003. He is responsible for various areas at the Company, including Inorganics, Petrochemicals, Intermediates, Chemicals Research & Engineering as well as BASF Future Business. In addition, Dr. Kreimeyer is Research Executive Director. In 1986, Dr. Kreimeyer joined BASF Aktiengesellschaft's main laboratory. In 1989, he was appointed Head of biological pilot plant at Main Laboratory. In 1991, Dr. Kreimeyer was appointed Group Leader Fermentations of Main Laboratory. In 1993, he was appointed Assistant to the Chairman of the Board of Executive Directors. In 1995, he was appointed Vice President, Regional Development at BASF South East Asia Pte., Singapore. In 1998, he became President of the Fertilizers division. In 2000, he became President of Dispersions division (in 2001 renamed Functional Polymers division). Dr. Kreimeyer studied Biology at the Universities of Hanover and Hamburg and was awarded his Doctorate. Since November 2008, he has been a Member of the Supervisory Board of Wintershall Holding AG. Since January 2008, he has been Chairman of the Advisory Council of BASF Venture Capital GmbH, a Member of the Board of Trustees of the Fund of the Chemical Industry and a Member of the BDI Committee for Research and Technology Policy. Since May 2008, Dr. Kreimeyer has been a Member of the Advisory Council of WINGAS GmbH. Since August 2008, he has been Member of the Coordinating Committee for Strategic Cooperation between OAO Gazprom and BASF SE and a Member of Advisory Board of C.H. Boehringer Sohn AG & Co. KG. Since November 2008, he has been a Member of the Advisory Council of Wintershall Erdgas Handelshaus GmbH (WIEH). He is Member of the Supervisory Board of Wintershall Holding AG. Age: 58 Education: University of Hanover (Biology) Universitaet Hamburg (Biology) Compensation/Salary:600,000 Compensation Currency: EUR
Robert Oswald	Deputy Chairman of the Supervisory Board, Employee Representative	Director/Board Member
Biography: Mr. Robert Oswald has been Deputy Chairman of the Supervisory Board at BASF SE since March 4, 2008 and Employee Representative since April 30, 2009. In addition, he acts as Member of the Personnel Committee of the Company. Previously, Mr. Oswald served as Member of the Supervisory Board from January 14, 2008 until March 4, 2008. He is Chairman of the Works Council of the Ludwigshafen site of BASF SE and Chairman of the Joint Works Council of BASF Group. Age: 58 Compensation/Salary:90,000 Compensation Currency: EUR
Anke Schaferkordt	Member of the Supervisory Board	Director/Board Member
Biography: Ms. Anke Schaeferkordt has served as Member of the Supervisory Board of BASF SE since December 17, 2010. She is Member of the Company's Nomination Committee. She is also Chief Executive Officer of Mediengruppe RTL Deutschland and RTL Television and Member of the Supervisory Board of Software AG. Compensation/Salary:60,000 Compensation Currency: EUR
Denise Schellemans	Member of the Supervisory Board, Employee Representative	Director/Board Member
Biography: Ms. Denise Schellemans has been Member of the Supervisory Board at BASF SE since January 14, 2008 and Employee Representative since April 30, 2009. She is a full-time trade union delegate. Compensation/Salary:60,000 Compensation Currency: EUR
Harald Schwager	Member of the Board of Executive Directors	Director/Board Member
Biography: Dr. Harald Schwager has been Member of the Board of Executive Directors at BASF SE since January 1, 2008. He is responsible for various areas, including Oil & Gas, Construction Chemicals, Procurement and the Region Europe. From 2007 to May 6, 2011, Dr. Schwager served as Chairman of the Administrative Council at BASF Antwerpen N.V., Belgium and also as Chairman of the Supervisory Board at BASF Schwarzheide GmbH, Schwarzheide. In May 1988, he started work at BASF in polypropylene catalyst research. In August 1990, he worked in technical service for polypropylene. In August 1994, Dr. Schwager was active in Marketing and sales for polyvinyl chloride (PVC). In January 1998, he was appointed Head of the Polyvinyl Chloride business unit headquartered in Brussels, Belgium. In August 1999, he was Managing Director of the European companies of Solvin S.A. in Brussels, Belgium. In December 2003, Dr. Schwager was President, Inorganics division BASF Group. In February 2006, he was appointed President, Verbund Site Manager Ludwigshafen. In March 2007, he was appointed to serve for Verbund Site Management Europe. Dr. Schwager studied Chemistry at the Universitaet Karlsruhe. He received his Doctorate from the Max-Planck-Institut in Muelheim/Ruhr in 1986. He joined BASF in 1988 after one year of conducting research in the United States. He occupies the position of Member of the Shareholders' Committee since September 16, 2011 and Chairman of the Supervisory Board at Wintershall AG and Wintershall Holding GmbH since May 7, 2011. Age: 53 Education: Max Planck-Institute for Biochemistry, Martinsried, DS Universitaet Karlsruhe (Chemistry) Compensation/Salary:600,000 Compensation Currency: EUR
Ralf Sikorski	Member of the Supervisory Board, Employee Representative	Director/Board Member
Biography: Mr. Ralf Sikorski has been Member of the Supervisory Board at BASF SE since 2003 and Employee Representative since April 30, 2009. He is Regional Manager of the Rhineland-Platinate/Saarland branch of the Mining, Chemical and Energy Industries Union. Mr. Sikorski occupies the position of Member of the Supervisory Board of Villeroy & Boch AG, Vekkeroy & Boch Fliesen GmbH and as Deputy Chairman of the Supervisory Board of Evonik Power Saar GmbH, Evonik New Energies GmbH and KSBG Kommunale Verwaltungsgesellschaft mbH. Age: 52 Compensation/Salary:60,000 Compensation Currency: EUR
Wayne T. Smith	Member of the Board of Executive Directors	Director/Board Member
Age: 53
Margret Suckale	Member of the Board of Executive Directors, Industrial Relations Director	Director/Board Member
Biography: Ms. Margret Suckale has been Member of the Board of Executive Directors at BASF SE since May 6, 2011. In the Company she is responsible for Human Resources; Engineering & Maintenance; Environment, Health & Safety and Verbund Site Management Europe. In addition, she is Industrial Relations Director and Site Director of Ludwigshafen. In 1985, Ms. Suckale started her professional career as Legal Adviser for Marketing, Sales, Contract, Competition, Antitrust and Trademark Law and Labor Law, among others, at Mobil Oil AG, Hamburg, Germany. Then, in 1993, she became Employee Relations Manager for Austria, Poland, Hungary, Slovakia and the Czech Republic at the same Company. In 1995, she was appointed Employee Relations Manager, Nordic, Responsible for Human Resources and Law for Denmark, Mobil Nordic Office, Copenhagen, Denmark, as well as Member of the Staff Redesign Project at Mobil Europe Ltd., London, the United Kingdom. In 1996, she joined Joint Venture Mobil/BP, Integration Team at Mobil Europe Ltd. Then in 1997, she became Head of Legal Division at Deutsche Bahn AG, where she served until 2004. Then, Ms. Suckale began to act as Head of Central Staff Units at Deutsche Bahn AG and in 2005 as Member of the Management Board, Responsible for Human Resources and Services in the company. In 2009, she joined BASF SE as Senior Vice President Global HR Executive Management and Development, also responsible for the human resources project Diversity + Inclusion. Since May 7, 2011 she has been Chairwoman of the Administrative Council at BASF Antwerpen N.V. Ms. Suckale studied Law from 1975 to 1980 at Universitaet Hamburg (the University of Hamburg). After that, she worked there as a research associate until 1985. Margret Suckale holds a Master of Business Administration from Northwestern University, Illinois, U.S., and an Executive Master of European and International Business Law from Universitaet St. Gallen (the University of St. Gallen), Switzerland. Age: 57 Education: Universitaet Hamburg (Law) Northwestern University, MBA Universitaet St. Gallen, M (Business Law and European Law) Compensation/Salary:600,000 Compensation Currency: EUR
Michael Vassiliadis	Member of the Supervisory Board, Employee Representative	Director/Board Member
Biography: Mr. Michael Vassiliadis has been Member of the Supervisory Board at BASF SE since August 1, 2004 and Employee Representative since April 30, 2009. Additionally, he acts as Member of the Personnel Committee and Audit Committee of the Company. He is Chairman of the Central Board of Executive Directors of the Mining, Chemical and Energy Industries Union. He is Deputy Chairman of the Supervisory Board at K+S AG and Evonik Steag GmbH. Furthermore, he serves as Member of the Supervisory Board at Henkel KGaA. Age: 49 Compensation/Salary:60,000 Compensation Currency: EUR

Executives

Name	Title	Function
Robert Blackburn	President, Information Services and Supply Chain	President
Saori Dubourg	President of the Nutrition and Health Division	President
Albert Heuser	President of Greater China and Functions Asia-Pacific	President
Gops Pillay	President - South and East Asia, ASEAN, and Australia/New Zealand.	President
Matthias Werra	Senior Vice President	President
Johanna Coleman	Chief Executive Officer, Wissensfabrik	Division Head Executive
Rainer Diercks	President, Petrochemicals	Division Head Executive
Wolfgang Hapke	President of BASF’s Performance Polymers Division	Division Head Executive
Education: University of Goettingen, doctorate (Business Administration)
Marko Murtonen	General Manager Shanghai BASF Polyurethane Company Ltd	Division Head Executive
Raman Ramachandran	Senior Vice President Crop Protection Division	Division Head Executive
Jan-Peter Sander	Senior Vice President of Personal Care Europe	Division Head Executive
Friedrich Seitz	President, Process Research and Chemical Engineering	Division Head Executive
Eggert Voscherau	Chairman of the Supervisory Board	Division Head Executive
Biography: Dr. Eggert Voscherau has been Chairman of the Supervisory Board of BASF SE since April 30, 2009. In addition, he acts as Chairman of the Personnel Committee and as Member of the Nominating Committee of the Company. He is Member of the Supervisory Board of Zentrum fuer Europaeische Wirtschaftsforschung GmbH (ZEW). He was Vice Chairman of the Management Board at BASF SE from May 6, 2003 until April 24, 2008 and prior to that was a Member of the Management from November 1, 1996. In 1969, he Joined BASF AG. In 1981, Dr. Voscherau held management position at BASF Brasileira S.A., Sao Paulo, Brazil. In 1984, he was Managing Director at BASF Brasileira S.A., Sao Paulo, Brazil. In 1987, he was President at Crop Protection division. In 1991, he was President of North American Consumer Products division (Pharmaceuticals, Crop Protection and Fine Chemicals). In 1994, Dr. Voscherau was President of Latin America North division. In 1996, he was appointed to the Board of Executive Directors, effective November 1, 1996. In 1997, he was the Chairman and Chief Executive Officer of BASF Corporation, New Jersey. In 2002, Dr. Voscherau was appointed Vice Chairman of the Board of Executive Directors, effective May 6, 2003. He occupied the position of Chairman of the Supervisory Board at Carl-Zeiss AG until February 15, 2010; at CropEnergies AG until July 16, 2009; and at Schott AG until February 15, 2010. Moreover, he acted as Supervisory Board Member at HDI Haftpflichtverband der Deutschen Undustrie VVaG as well as Talanx AG until July 22, 2009. Since May 12, 2011, he has been Member of the Supervisory Board at Hochtief AG. He holds a Doctorate of Science degree in Business Administration from Universitaet Mannheim which he earned in 2006. Age: 70 Education: Universitaet Mannheim, DS (Business Administration) Compensation/Salary:150,000 Compensation Currency: EUR
Hans-Ulrich Engel	Chief Financial Officer	Finance Executive
Biography: Dr. Hans-Ulrich Engel, Ph.D., has been Chief Financial Officer and Member of the Board of Executive Directors at BASF SE since 2011. In the Company, Dr. Engel is responsible for Finance, Catalysts, Market & Business Development North America, Regional Functions North America, Information Services, Corporate Controlling and Corporate Audit. In addition to that, he acts as Chairman and Chief Executive Officer of BASF Corporation, Florham Park, New Jersey, the United States. Prior to the current position in the Company, he acted as Member of the Executive Board, responsible for Oil and Gas, Europe and Global Procurement & Logistics since March 4, 2008. He was previously General Counsel of the Company. Dr. Engel joined Legal Department of BASF Aktiengesellschaft in 1988. In 1993, he was delegated to BASF Corporation in North America. It was in 1994, when he returned to Legal Department of BASF Aktiengesellschaft, where in 1996, he became Assistant to the Chairman and Chief Executive Officer. In 1997, Dr. Engel began to act as Managing Director of BASF Schwarzheide GmbH. In 2000, he was appointed as Executive Vice President and Chief Financial Officer of BASF Corporation in North America and President, Regional Functions North America. He acted as Chairman of the Supervisory Board at Wintershall Holding GmbH and Wintershall AG until May 6, 2011. In adddition, he served as Member of the Shareholders' Committee at Nord Stream AG until September 15, 2011. Currently, he sits on the Supervisory Board of BASF Personal Care and Nutrition GmbH. He studied law at Goettingen (Georg-August-Universitaet Goettingen) and Freiburg (Albert-Ludwigs-Universitaet Freiburg) Universities from 1977 until 1983. He completed in-service training from 1984 until 1987 at the Higher Regional Court, Oldenburg, Germany, before earning his Doctorate at Georg-August-Universitaet Goettingen. He holds a degree in Law from Albert-Ludwigs-Universitaet Freiburg as well as Georg-August-Universitaet Goettingen. Age: 54 Education: Georg-August-Universitaet Goettingen, PHD Albert-Ludwigs-Universitaet Freiburg (Law) Georg-August-Universitaet Goettingen (Law) Compensation/Salary:708,000 Compensation Currency: EUR
Manfredo Rubens	President, Finance	Finance Executive
Silvia Dochnahl	Customer Event and Relationship Manager	Customer Service Executive
Frank Böhme	Investor Relations Manager, Sustainability	Investor Relations Executive
Florian Greger	Deputy Head of Investor Relations	Investor Relations Executive
Tobias Hoeld	Investor Relations Manager	Investor Relations Executive
Hannes Koske	Investor Relations Manager, Creditor Relations	Investor Relations Executive
Nicole Krawietz	Event Manager, Investor Relations	Investor Relations Executive
Magdalena Moll	Senior Vice President Investor Relations	Investor Relations Executive
Anna Pinnow	Event Manager, Investor Relations	Investor Relations Executive
Ingo Rose	Investor Relations Manager	Investor Relations Executive
Amber Usman	Senior Investor Relations Manager	Investor Relations Executive
Andrea Wentscher	Investor Relations Manager, Retail Investors	Investor Relations Executive
Thomas Wolf	Junior Investor Relations Manager	Investor Relations Executive
Markus Zeise	Director, Investor Relations US	Investor Relations Executive
Volker Knabe	President, Engineering and Maintenance	Engineering/Technical Executive
Andreas Kreimeyer	Member of the the Board of Executive Directors, Research Executive Director	Research & Development Executive
Biography: Dr. Andreas Kreimeyer has been Member of the Board of Executive Directors at BASF SE since January 1, 2003. He is responsible for various areas at the Company, including Inorganics, Petrochemicals, Intermediates, Chemicals Research & Engineering as well as BASF Future Business. In addition, Dr. Kreimeyer is Research Executive Director. In 1986, Dr. Kreimeyer joined BASF Aktiengesellschaft's main laboratory. In 1989, he was appointed Head of biological pilot plant at Main Laboratory. In 1991, Dr. Kreimeyer was appointed Group Leader Fermentations of Main Laboratory. In 1993, he was appointed Assistant to the Chairman of the Board of Executive Directors. In 1995, he was appointed Vice President, Regional Development at BASF South East Asia Pte., Singapore. In 1998, he became President of the Fertilizers division. In 2000, he became President of Dispersions division (in 2001 renamed Functional Polymers division). Dr. Kreimeyer studied Biology at the Universities of Hanover and Hamburg and was awarded his Doctorate. Since November 2008, he has been a Member of the Supervisory Board of Wintershall Holding AG. Since January 2008, he has been Chairman of the Advisory Council of BASF Venture Capital GmbH, a Member of the Board of Trustees of the Fund of the Chemical Industry and a Member of the BDI Committee for Research and Technology Policy. Since May 2008, Dr. Kreimeyer has been a Member of the Advisory Council of WINGAS GmbH. Since August 2008, he has been Member of the Coordinating Committee for Strategic Cooperation between OAO Gazprom and BASF SE and a Member of Advisory Board of C.H. Boehringer Sohn AG & Co. KG. Since November 2008, he has been a Member of the Advisory Council of Wintershall Erdgas Handelshaus GmbH (WIEH). He is Member of the Supervisory Board of Wintershall Holding AG. Age: 58 Education: University of Hanover (Biology) Universitaet Hamburg (Biology) Compensation/Salary:600,000 Compensation Currency: EUR
Hartwig Michels	President, Global Procurement and Logistics	Logistics Executive
Scott Thomson	Senior Vice President of Pharma Ingredients and Services Business Unit	Medical Specialist
Michael Grabicki	Vice President	Other
Martina Klenk	Senior Project Manager	Other
Anke Schmidt	Senior Vice President Employee Development	Other
Wolfgang Weber	Vice President Brussels office	Other
Paul Whittleston	Vice President Automotive Refinish & Industrial Coatings	Other
Martin Widmann	Senior Vice President of Fuel and Lubricant Solutions Unit	Other

 BASF SE

Significant Developments

Rockwool International A/S Acquires BASF Wall Systems GmbH & Co. KG from BASF SE Jul 18, 2013 Rockwool International A/S announced that the company has entered into an agreement to acquire BASF Wall Systems GmbH & Co. KG, which is a German system holder for external facade insulation (ETICS), owned by the BASF SE. Under the agreement, a unit under the ROCKWOOL Group's German subsidiary Deutsche ROCKWOOL will acquire 100% of BASF Wall Systems including production facility in Marktredwitz and such brands as HECK MultiTherm and Rajasil. The transaction is expected to be completed over the next six months following which ownership of the business will be transferred to the ROCKWOOL Group. The purchase price has not been disclosed. BASF SE And Dyadic International, Inc Enter Into Research And License Agreement May 15, 2013 BASF SE and Dyadic International, Inc announced that the two Companies have entered into a non-exclusive worldwide research and license agreement. Under the terms of the agreement, BASF will be able to use Dyadic's patented and proprietary C1 platform technology to develop, produce, distribute and sell industrial enzymes in certain fields for a variety of applications. BASF will fund research and development at Dyadic's research lab in The Netherlands. In addition to this funding, BASF has agreed to pay Dyadic a $6 million upfront license fee, and certain research and commercial milestone fees, as well as royalties upon commercialization. Suez Environnement Company SA's Degremont Acquires Industrial Water Management France from BASF SE May 15, 2013 Suez Environnement Company SA announced that Degremont has signed an agreement to acquire Industrial Water Management France (IWM) from BASF SE. IWM supplies and commercialises conditioning products combined with technical services for cooling circuits and boiler systems and for industrial wastewater treatment. Closing of the transaction is expected to take place during the third quarter of 2013. Financial terms of the agreement were not disclosed. Gazprom OAO Consults with PwC on Asset Exchange with BASF SE's Wineshall-Interfax Apr 11, 2013 Intered that PricewaterhouseCoopers (PwC) has consulted with Gazprom OAO concerning the pending exchange of assets with BASF FS's Wintershall. Gazprom OAO's CEO, Mr. Alexei Miller, met with PwC President, Mr. Dennis Nelly, to examine the course of collaboration in preparing the exchange of assets between GazpromOAO and Wintershall under the project to develop the Achimov deposits at the Urengoi field, the Company said in a statement. Wintershall plans to transfer Gazprom OAO a 50% of Wintershall Noordzee BV as well as full control over the Wingas sales partnership and the storage joint venture astora in exchange for the Achimov 4A and 5A sections at Urengoi. Koninklijke Ten Cate NV and BASF SE Welcome Owens Corning as Partner in Thermoplastic Automotive Composites Alliance Mar 14, 2013 Koninklijke Ten Cate NV announced that it and BASF SE have welcomed Owens Corning as partner in their strategic alliance for thermoplastic automotive composites. Owens Corning is a producer of glass fiber reinforcements for composite systems. The goal of the alliance is to develop optimal solutions in thermoplastic composites for automotive mass production. BASF SE's BASF AS Announces Compulsory Acquisition of Minority Shares in Pronova Biopharma ASA Jan 31, 2013 Pronova Biopharma ASA announced that BASF SE's BASF AS resolved to carry out a compulsory acquisition of all the remaining shares in Pronova not already owned by BASF (the Minority Shares). In accordance with section 6-22 (2) of the STA, the offered redemption price for each Minority Share is NOK 13.50, which is equal to the offer price in the voluntary offer made by BASF. As of January 31, 2013, the rights and ownership of the Minority Shares will automatically be transferred to BASF, and accordingly BASF will from the day hereof be the beneficial owner of 100% of the Pronova shares. BASF SE's BASF AS Completes Voluntary Offer for Pronova Biopharma ASA Jan 31, 2013 Pronova Biopharma ASA announced that BASF SE's BASF AS has successfully completed the voluntary offer for Pronova BioPharma, Lysaker, Norway, which closed on January 31, 2013 with the payment of the offer price to Pronova shareholders. At the same time, 295,374,009 tendered shares were transferred to BASF AS. BASF AS now holds 295,374,009 shares in Pronova BioPharma, equaling 98.19% of the issued shares and votes of Pronova BioPharma. BASF AS intends to effect a compulsory acquisition (squeeze-out) of all issued shares of Pronova BioPharma that are not currently owned by BASF AS (the Minority Shares), in accordance with the Norwegian Public Limited Liability Companies Act section 4-25 and the Norwegian Securities Trading Act section 6-22 as soon as possible. BASF SE's BASF AS Announces Results of Offer for Pronova Biopharma ASA Jan 21, 2013 BASF SE announced that in the conditional voluntary offer (the Voluntary Offer) for all of the outstanding shares in Pronova BioPharma ASA, following the expiration of the offer period on January 18, 2013 at 16:30 CET, BASF AS received acceptances under the Voluntary Offer for 293,975,655 shares representing approximately 97.72% of the issued shares and votes in Pronova. BASF intends to complete the Offer subject to the satisfaction or waiver of the remaining conditions to the Offer as soon as possible. BASF SE's BASF AS Increases Offer Price Under Voluntary Offer for All Shares in Pronova Biopharma ASA Jan 15, 2013 Pronova Biopharma ASA announced, with reference to the offer document dated December 4, 2012 regarding BASF SE's BASF AS' conditional voluntary offer for all of outstanding shares in Pronova BioPharma ASA and BASF AS' announcement on December 19, 2012 regarding extension of the offer period, that BASF AS has decided to increase the offer price under the voluntary offer from NOK 12.50 per share to NOK 13.50 per share. BASF AS has by January 14, 2013 received acceptances under the voluntary offer for 209,595,097 shares representing approximately 69.67% of the issued shares and votes in Pronova. This number includes 178,618,165 shares tendered by shareholders that have provided irrevocable undertakings to accept the offer representing approximately 59.4% of the issued shares and votes in Pronova. Neither BASF AS nor any of its close associates holds any shares, warrants or other financial instruments issued by Pronova as of the date of the announcement. As announced on January 9, 2013 all regulatory approvals required for completion of the voluntary offer have been obtained. The offer period expires on January 18, 2013 at 16:30 CET. BASF AS announced that the increased offer price of NOK 13.50 per share cannot be increased any further under the terms of the voluntary offer and will remain BASF AS last and final offer. The other terms and conditions of the voluntary offer remain unchanged, including the 90% acceptance condition. BASF SE's BASF AS Prolongs Acceptance Period for Acquisition of Pronova Biopharma ASA's Shares Dec 19, 2012 Pronova Biopharma ASA announced that the Oslo Stock Exchange, in capacity as take-over supervisory authority, has approved amendment to the voluntary offer to acquire the shares in Pronova BioPharma ASA made by BASF SE's BASF AS. The amendment relates to extension of the acceptance period. The new acceptance period lasts from and including December 5, 2012 to and including January 18, 2013 at 16:30 CET (Central European Time). The offer price is NOK 12.50 per share. Swedbank AB to Sell Shares in Pronova Biopharma ASA to BASF SE Dec 06, 2012 Pronova Biopharma ASA announced that Swedbank AB has on December 6, 2012 accepted BASF SE's offer to purchase 19,891,100 shares in Pronova Biopharma. If the offer is completed, Swedbank AB will own a total of 0 shares, corresponding to 0% of totals hares in Pronova Biopharma. Acceptances relates to shares controlled by Kistefos AS and Kistefos Investment Ltd under future contracts and which these companies have pre-accepted the offer for. Pronova Biopharma ASA Announces Further Details on BASF SE's Cash Offer to Acquires Shares in Pronova Biopharma Dec 05, 2012 Pronova Biopharma ASA announced, with reference to the stock exchange notice from November 21, 2012 regarding the transaction agreement with BASF SE, whereby BASF committed to make a voluntary offer to acquire all outstanding shares of Pronova Biopharma for NOK 12.50 per share in cash, that the offer document with the detailed terms and conditions of the offer has been reviewed and approved by the Oslo Stock Exchange in accordance with Section 6-14 of the Norwegian Securities Trading Act. The offer period is from and including December 5, 2012 to and including December 19, 2012 at 09.00 (CET). Herkules Private Equity, Kistefos, Pronova's Directors and Management, in aggregate representing approximately 60% of the Company's share capital and votes, have irrevocably undertaken to accept the offer. These pre-acceptances cannot be withdrawn in the event of a competing offer. Pronova's Board of Directors has unanimously recommended that shareholders accept the offer. Pronova has engaged Morgan Stanley & Co. Limited as its exclusive financial advisor. ABG Sundal Collier Norge has provided an independent statement regarding the offer in accordance with section 6-16 (1) c.f. 6-19 (1) of the Norwegian Securities Trading Act which is included in the offer document. BASF SE Announces Cash Offer to Acquire Pronova Biopharma ASA through Subsidiary Nov 21, 2012 BASF SE announced that it plans to acquire Pronova Biopharma ASA through wholly-owned subsidiary BASF AS in Norway. BASF is to make a recommended voluntary public takeover offer to Pronova's shareholders at NOK 12.50 in cash for each Pronova share. The Board of Directors of Pronova and the management support BASF's offer and recommend its acceptance. In addition, BASF has obtained irrevocable pre-acceptance commitments for approximately 60% of Pronova's share capital; including the 50.0% stake held by majority shareholders Herkules Private Equity Fund (held through its funds Herkules Private Equity (Jersey-I) L.P. - 126,378,281 shares, corresponding to 42.01% of the outstanding shares, and Herkules Private Equity (Jersey- II) L.P. - 4,072,055 shares, corresponding to 8.00% of the outstanding shares), an approximately 9.1% stake indirectly controlled by investment firms Kistefos AS and Kistefos Investment AS and 0.3% held by members of the Board and management of Pronova. The offer corresponds to a premium of 24% above the volume-weighted average share price for Pronova's shares in the six months prior to announcement of the offer. The enterprise value is estimated at NOK 4,845 million (approximately EUR 664 million). The acquisition will be financed by way of available resources of BASF. The offer will be subject to certain conditions, including that shareholders shall in the aggregate have accepted the offer for more than 90% of the total share capital of Pronova. BASF SE and OAO Gazprom to Swap Assets; to Divest 50% Shares in Subsidiaries and Facilities Nov 14, 2012 BASF SE (BASF) announced that it has signed a legally binding basic agreement to swap assets of equivalent value with OAO Gazprom (Gazprom). BASF's wholly-owned subsidiary Wintershall will receive 25% plus one share of the blocks IV and V in the Achimov formation together with the option to increase the share in the two gas and condensate deposits to 50%. A total annual plateau production of at least 8 billion cubic meters of natural gas is expected from the two blocks. Start of production is planned for 2016. In return, Wintershall will completely transfer the jointly operated natural gas trading and storage business to its partner Gazprom. This includes the 50% shares in the gas trading companies WINGAS, WIEH (Wintershall Erdgashandelshaus Berlin) and WIEE (Wintershall Erdgashandelshaus Zug) including shares in the natural gas storage facilities in Rehden and Jemgum, Germany, as well as Haidach, Austria, and the gas storage operator astora. Gazprom will also receive a 50% share in the activities of Wintershall Noordzee B.V. Koninklijke Ten Cate NV's TenCate Advanced Composites and BASF SE Enter Into Strategic Alliance Oct 25, 2012 Koninklijke Ten Cate NV announced that TenCate Advanced Composites and BASF SE have entered into a strategic alliance to cooperate on the development, production and commercialization of thermoplastic composite materials suitable for high-volume vehicle production. The main goal of this partnership is to offer car manufacturers custom-engineered solutions for high-performance composite structures, which enable this industry to further reduce weight and carbon dioxide emission. In this strategic alliance, BASF SE will contribute its know-how in the production and formulation of thermoplastic resins in order to develop variants of its Ultramid (PA), Ultradur (PBT) and Ultrason (PESU) product lines. TenCate Advanced Composites joins in with their experience in composite manufacturing. Ciech SA to Sale Its Subsidiary Zachem SA to BASF SE's BASF Polska sp. z o.o. Oct 12, 2012 Ciech SA announced that on September 24, 2012, together with its subsidiary, Zaklady Chemiczne Zachem SA (Zachem SA) it signed with BASF Polska sp. z o.o. and BASF SE a conditional agreement regarding the sale and transfer of intangible assets related to the production of toluene diisocyanate (TDI) to BASF Polska sp. z o.o. including customers lists, trade contracts for the sale TDI, intellectual property rights to the products and TDI technology and know-how related to the production of TDI. The value of the transaction is EUR 43 million. Closing of the sale is subject to obtain the necessary approvals and consents, including the consent of the Treasury, represented by the Minister of the Treasury, as required under the provisions of the agreement concerning the sale of Zachem SA's shares. The fulfillment of the conditions precedent is due by December 31, 2012, and by BASF in the field of anti-trust approvals relevant authorities on February 28, 2013. As a result of the implementation of the agreement of sale and transfer, the Company will cease operations in the segment of the production and sale of TDI.
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Annual Profit & Loss

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078
Consolidated	Yes	Yes	Yes
Total income	101,163.3	102,194.2	84,591.2
Net sales	101,163.3	102,194.2	84,591.2
Other operating income	2,212.7	2,792.0	1,509.8
Cost of sales	74,555.7	75,065.1	60,007.0
Gross profit	26,607.6	27,129.1	24,584.2
Advertising, distribution, and commercial expenses	9,822.2	10,182.3	8,873.3
General expenses	1,788.7	1,828.4	1,507.1
Other operating costs	5,675.7	5,972.0	5,435.2
Net operating income	11,533.8	11,938.4	10,278.4
Other income	230.0	262.8	198.7
Interest payable on loans	966.3	1,060.9	1,023.7
Total expenses	693.9	-533.9	513.9
Profit before tax	10,839.9	12,472.4	9,764.6
Provisions	14,919.6	14,138.1	15,787.8
Total taxation	4,129.8	3,291.2	3,044.7
Net profit	6,710.0	9,181.2	6,719.8

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406
Consolidated	Yes	Yes	Yes
Issued capital	1,554.3	1,526.6	1,577.7
Capital reserves	4,213.6	4,158.0	4,314.4
Total reserves	26,574.1	25,243.8	21,219.3
Total stockholders equity	34,105.2	32,953.5	30,395.5
Minority interests	1,617.8	1,617.5	1,681.0
Deferred taxation	581.5	563.4	-
Other provisions	7,548.2	8,496.4	8,956.2
Provision for pensions	7,216.5	4,139.8	3,726.8
Provisions and allowances	15,346.3	13,199.6	15,992.6
Owing to group/associated companies	563.0	559.5	580.9
Taxes and social security	816.8	698.4	355.5
Total long-term liabilities	13,424.5	12,965.9	16,592.3
Trade creditors	6,231.8	6,712.7	6,456.9
Advances received	383.3	353.1	379.7
Taxation and social security	6,028.3	3,967.1	4,441.9
Due to group companies	260.4	286.9	421.2
Total current liabilities	18,510.4	16,493.0	16,219.3
Regularisation account	315.9	390.7	478.9
Total liabilities (including net worth)	85,021.1	79,414.3	79,678.7
Patents	7,691.0	7,691.5	8,500.1
Goodwill	8,439.1	7,739.6	7,878.9
Other intangibles	-	-	48.3
Intangibles	16,179.0	15,472.6	16,427.3
Land and buildings	5,062.1	5,018.6	5,198.5
Machinery and tools	13,717.9	13,877.2	13,097.6
Fixtures and equipment	5,062.1	5,018.6	5,198.5
Fixed assets under construction	4,307.4	3,666.0	4,078.3
Total tangible fixed assets	24,024.6	23,322.6	23,129.7
Shares held in associated companies	404.4	399.8	414.5
Participating interest	337.0	329.7	327.3
Deposits	247.2	264.8	1,762.8
Total financial assets	3,866.0	3,505.0	4,401.6
Total non-current assets	44,069.5	42,300.2	43,958.6
Raw materials	3,700.8	3,793.2	3,255.9
Finished goods	9,275.7	9,131.2	8,278.7
Net stocks and work in progress	13,124.5	13,058.1	11,655.4
Trade debtors	13,399.4	14,131.7	13,639.5
Other receivables	9,337.8	5,369.1	6,299.9
Total receivables	23,096.7	19,863.0	20,305.7
Owing from associated companies	359.5	362.2	366.2
Cash and liquid assets	2,348.7	2,658.6	2,002.9
Short-term investments	30.4	24.7	21.5
Shares in associated companies	2,877.3	2,510.6	1,897.0
Recoverable taxation	2,042.0	1,221.6	1,491.8
Total current assets	38,600.3	35,604.4	33,985.5
Prepaid expenses and deferred costs	309.3	288.2	242.8
Total assets	85,021.1	79,414.3	79,678.7

Annual Ratios

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406
Consolidated	Yes	Yes	Yes
Current ratio	20.85	21.59	20.95
Acid test ratio	13.76	13.67	13.77
Total liabilities to net worth	0.09%	0.09%	0.11%
Net worth to total assets	0.04%	0.04%	0.04%
Current liabilities to net worth	0.05%	0.05%	0.05%
Current liabilities to stock	0.14%	0.13%	0.14%
Fixed assets to net worth	0.13%	0.13%	0.14%
Collection period	471.00	540.00	580.00
Stock turnover rate	1.26	1.37	1.36
Profit margin	0.01%	0.01%	0.01%
Return on assets	0.01%	0.01%	0.01%
Shareholders' return	0.02%	0.03%	0.02%
Sales per employee	68.79	65.36	60.51
Profit per employee	4.56	5.87	4.81
Net worth	34,105.2	32,953.5	30,395.5
Number of employees	114,453	112,446	105,565

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078	0.719047	0.683679
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	101,163.3	102,194.2	84,591.2	70,500.3	91,130.5
Revenue	101,163.3	102,194.2	84,591.2	70,500.3	91,130.5
Total Revenue	101,163.3	102,194.2	84,591.2	70,500.3	91,130.5
Cost of Revenue	74,555.7	75,065.1	60,007.0	51,014.8	67,948.5
Cost of Revenue, Total	74,555.7	75,065.1	60,007.0	51,014.8	67,948.5
Gross Profit	26,607.6	27,129.1	24,584.2	19,485.5	23,181.9
Selling/General/Administrative Expense	11,610.9	12,010.7	10,380.4	9,457.0	9,997.4
Total Selling/General/Administrative Expenses	11,610.9	12,010.7	10,380.4	9,457.0	9,997.4
Research & Development	2,243.5	2,231.7	1,976.0	1,944.2	1,981.9
Depreciation	484.4	508.9	327.1	997.2	561.7
Depreciation/Amortization	484.4	508.9	327.1	997.2	561.7
Investment Income - Operating	646.3	727.2	941.6	-	-
Interest/Investment Income - Operating	646.3	727.2	941.6	-	-
Interest Expense (Income) - Net Operating Total	646.3	727.2	941.6	-	-
Restructuring Charge	253.1	324.0	365.5	762.1	215.0
Impairment-Assets Held for Use	-	-	-	-	371.5
Impairment-Assets Held for Sale	-	-	-	-	54.1
Loss (Gain) on Sale of Assets - Operating	-840.4	-870.4	-102.0	-61.2	-62.9
Other Unusual Expense (Income)	-	0.0	-53.0	0.0	-
Unusual Expense (Income)	-587.2	-546.4	210.6	700.9	577.8
Other Operating Expense	1,852.9	1,722.8	1,464.7	2,816.2	2,414.9
Other, Net	-1,177.0	-1,464.1	-994.6	-1,543.7	-1,804.9
Other Operating Expenses, Total	675.9	258.6	470.1	1,272.5	609.9
Total Operating Expense	89,629.6	90,255.8	74,312.8	65,386.6	81,677.2
Operating Income	11,533.8	11,938.4	10,278.4	5,113.7	9,453.3
Interest Expense - Non-Operating	-1,044.7	-1,154.1	-1,101.9	-1,020.8	-879.1
Interest Capitalized - Non-Operating	87.4	101.5	86.1	-	-
Interest Expense, Net Non-Operating	-957.3	-1,052.6	-1,015.8	-1,020.8	-879.1
Interest Income - Non-Operating	230.0	262.8	198.7	186.4	254.5
Investment Income - Non-Operating	239.0	1,365.4	390.7	185.0	-108.2
Interest/Investment Income - Non-Operating	469.0	1,628.2	589.3	371.3	146.3
Interest Income (Expense) - Net Non-Operating Total	-488.3	575.6	-426.4	-649.5	-732.8
Other Non-Operating Income (Expense)	-205.6	-41.7	-87.4	-182.2	20.5
Other, Net	-205.6	-41.7	-87.4	-182.2	20.5
Income Before Tax	10,839.9	12,472.4	9,764.6	4,282.1	8,740.9
Total Income Tax	4,129.8	3,291.2	3,044.7	1,980.4	3,906.8
Income After Tax	6,710.0	9,181.2	6,719.8	2,301.7	4,834.1
Minority Interest	-440.7	-577.0	-684.7	-340.7	-574.8
Net Income Before Extraord Items	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Net Income	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Income Available to Common Excl Extraord Items	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Income Available to Common Incl Extraord Items	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Basic/Primary Weighted Average Shares	918.5	918.5	918.5	918.5	930.1
Basic EPS Excl Extraord Items	6.83	9.37	6.57	2.14	4.58
Basic/Primary EPS Incl Extraord Items	6.83	9.37	6.57	2.14	4.58
Diluted Net Income	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Diluted Weighted Average Shares	918.5	918.5	918.5	918.5	930.1
Diluted EPS Excl Extraord Items	6.83	9.37	6.57	2.14	4.58
Diluted EPS Incl Extraord Items	6.83	9.37	6.57	2.14	4.58
Dividends per Share - Common Stock Primary Issue	3.34	3.48	2.91	2.36	2.85
Gross Dividends - Common Stock	3,068.5	3,198.0	2,676.1	2,170.9	2,619.6
Interest Expense, Supplemental	957.3	1,052.6	1,101.9	1,020.8	879.1
Interest Capitalized, Supplemental	-87.4	-101.5	-86.1	-80.7	-62.9
Depreciation, Supplemental	3,662.1	3,640.2	3,532.1	3,635.4	3,628.9
Total Special Items	-587.2	-546.4	210.6	700.9	577.8
Normalized Income Before Tax	10,252.7	11,925.9	9,975.1	4,983.0	9,318.7
Effect of Special Items on Income Taxes	-223.7	-144.2	65.7	324.2	258.2
Inc Tax Ex Impact of Sp Items	3,906.1	3,147.0	3,110.4	2,304.6	4,165.0
Normalized Income After Tax	6,346.5	8,778.9	6,864.7	2,678.4	5,153.7
Normalized Inc. Avail to Com.	5,905.8	8,201.9	6,180.1	2,337.7	4,578.8
Basic Normalized EPS	6.43	8.93	6.73	2.55	4.92
Diluted Normalized EPS	6.43	8.93	6.73	2.55	4.92
Amort of Intangibles, Supplemental	886.6	1,081.8	931.0	1,219.7	880.5
Research & Development Exp, Supplemental	2,243.5	2,231.7	1,976.0	1,944.2	1,981.9
Normalized EBIT	11,592.9	12,119.2	11,430.6	5,814.6	10,031.0
Normalized EBITDA	16,141.6	16,841.2	15,893.7	10,669.7	14,540.4
Current Tax - Domestic	582.1	472.8	815.8	287.9	551.4
Current Tax - Foreign	4,042.5	1,974.4	2,123.0	1,920.6	4,067.7
Current Tax - Other	-422.8	38.9	-194.7	-43.1	-304.2
Current Tax - Total	4,201.8	2,486.1	2,744.1	2,165.4	4,314.9
Deferred Tax - Total	-72.0	805.1	300.6	-185.0	-409.5
Deferred Tax - Total	-72.0	805.1	300.6	-185.0	-409.5
Income Tax - Total	4,129.8	3,291.2	3,044.7	1,980.4	3,905.3
Interest Cost - Domestic	1,096.1	1,156.9	1,084.7	1,086.2	958.1
Service Cost - Domestic	332.8	347.6	291.4	339.3	365.7
Prior Service Cost - Domestic	-2.6	-8.3	-2.6	-4.2	-4.4
Curtailments & Settlements - Domestic	-96.4	7.0	-5.3	-296.2	-33.6
Other Pension, Net - Domestic	-1,052.4	-1,137.4	-1,013.1	-938.7	-990.2
Domestic Pension Plan Expense	277.6	365.7	354.9	186.4	295.5
Defined Contribution Expense - Domestic	314.8	300.3	256.9	208.6	125.8
Total Pension Expense	592.4	666.0	611.9	395.0	421.3
Discount Rate - Domestic	5.00%	5.00%	5.50%	6.00%	5.25%
Discount Rate - Foreign	4.34%	4.74%	5.17%	5.59%	5.87%
Discount Rate - Post-Retirement	8.00%	8.00%	8.00%	7.50%	8.00%
Expected Rate of Return - Domestic	5.28%	5.28%	5.13%	5.42%	5.18%
Expected Rate of Return - Foreign	5.66%	5.49%	6.28%	6.60%	7.20%
Compensation Rate - Domestic	2.75%	2.75%	2.75%	2.75%	2.75%
Compensation Rate - Foreign	3.71%	3.79%	3.91%	3.82%	4.56%
Pension Payment Rate - Domestic	2.00%	1.75%	2.00%	2.00%	2.00%
Pension Payment Rate - Foreign	0.70%	1.00%	0.92%	0.76%	0.60%
Total Plan Interest Cost	1,096.1	1,156.9	1,084.7	1,086.2	958.1
Total Plan Service Cost	332.8	347.6	291.4	339.3	365.7
Total Plan Other Expense	-1,052.4	-1,137.4	-1,013.1	-938.7	-990.2

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406	0.696986	0.719399
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	2,348.7	2,658.6	2,002.9	2,632.8	3,858.8
Short Term Investments	30.4	24.7	21.5	21.5	48.7
Cash and Short Term Investments	2,379.1	2,683.3	2,024.4	2,654.3	3,907.4
Accounts Receivable - Trade, Gross	13,910.9	14,683.4	14,173.5	11,601.4	11,201.0
Provision for Doubtful Accounts	-511.5	-551.7	-533.9	-499.3	-425.4
Trade Accounts Receivable - Net	13,930.7	15,068.9	14,398.9	11,945.7	11,529.1
Notes Receivable - Short Term	2.6	24.7	81.8	130.6	125.1
Other Receivables	1,402.3	1,155.4	1,137.6	1,096.1	797.9
Total Receivables, Net	15,335.7	16,248.9	15,618.3	13,172.4	12,452.1
Inventories - Work In Progress	9,275.7	9,131.2	8,278.7	6,972.9	6,844.6
Inventories - Raw Materials	3,700.8	3,793.2	3,255.9	2,647.1	2,459.0
Inventories - Other	148.0	133.7	120.7	101.9	97.3
Total Inventory	13,124.5	13,058.1	11,655.4	9,721.9	9,400.9
Prepaid Expenses	256.4	257.0	217.3	256.8	271.1
Discontinued Operations - Current Asset	4,516.3	383.0	823.7	-	0.0
Other Current Assets	2,438.5	2,534.0	3,013.1	2,297.0	3,540.5
Other Current Assets, Total	6,954.8	2,916.9	3,836.8	2,297.0	3,540.5
Total Current Assets	38,050.5	35,164.3	33,352.3	28,102.4	29,571.9
Land/Improvements	11,890.0	11,597.7	11,796.2	11,579.9	10,383.7
Machinery/Equipment	60,022.5	59,221.6	57,544.4	59,928.1	55,318.4
Construction in Progress	4,524.2	3,698.4	4,085.0	3,017.3	2,614.7
Property/Plant/Equipment - Gross	76,436.7	74,517.7	73,425.7	74,525.2	68,316.8
Accumulated Depreciation	-52,412.1	-51,195.1	-50,296.1	-51,160.3	-47,421.6
Property/Plant/Equipment - Net	24,024.6	23,322.6	23,129.7	23,364.9	20,895.2
Goodwill, Net	8,439.1	7,739.6	7,878.9	7,272.7	6,600.0
Intangibles - Gross	11,381.2	11,879.4	12,555.6	11,813.7	10,647.8
Accumulated Intangible Amortization	-3,641.3	-4,146.3	-4,007.2	-4,094.8	-3,501.5
Intangibles, Net	7,739.9	7,733.1	8,548.4	7,719.0	7,146.2
LT Investment - Affiliate Companies	2,702.9	2,404.2	1,781.6	1,922.6	1,593.0
LT Investments - Other	1,163.1	1,100.8	2,620.0	2,322.9	2,706.4
Long Term Investments	3,866.0	3,505.0	4,401.6	4,245.4	4,299.4
Note Receivable - Long Term	190.3	115.5	81.8	-	-
Deferred Income Tax - Long Term Asset	2,042.0	1,221.6	1,491.8	1,495.0	1,292.7
Other Long Term Assets	668.8	612.7	794.2	1,357.3	892.4
Other Long Term Assets, Total	2,710.8	1,834.3	2,286.0	2,852.3	2,185.2
Total Assets	85,021.1	79,414.3	79,678.7	73,556.8	70,697.9
Accounts Payable	6,206.7	6,647.8	6,356.3	3,997.2	3,800.4
Accrued Expenses	593.4	585.5	1,200.7	866.6	209.9
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	5,621.2	5,186.1	4,533.1	3,433.4	8,672.5
Customer Advances	647.6	519.3	379.7	331.4	353.1
Income Taxes Payable	1,427.4	1,347.5	1,529.4	1,439.1	1,195.4
Discontinued Operations - Current Liability	2,950.0	112.9	261.6	-	0.0
Other Current Liabilities	5,461.3	6,990.5	6,624.6	6,690.2	8,419.5
Other Current liabilities, Total	10,486.4	8,970.2	8,795.2	8,460.7	9,968.0
Total Current Liabilities	22,907.7	21,389.6	20,885.3	16,757.9	22,650.9
Long Term Debt	12,044.7	11,708.0	15,655.9	17,854.0	11,523.5
Capital Lease Obligations	81.9	64.9	65.7	89.0	90.4
Total Long Term Debt	12,126.6	11,772.9	15,721.6	17,943.0	11,613.9
Total Debt	17,747.8	16,959.0	20,254.7	21,376.3	20,286.4
Deferred Income Tax - LT Liability	3,318.8	3,411.5	3,309.6	3,002.9	3,012.2
Deferred Income Tax	3,318.8	3,411.5	3,309.6	3,002.9	3,012.2
Minority Interest	1,617.8	1,617.5	1,681.0	1,624.1	1,599.9
Reserves	3,996.8	4,329.3	4,496.9	4,718.9	3,832.4
Pension Benefits - Underfunded	7,216.5	4,139.8	3,726.8	3,235.4	2,379.8
Other Long Term Liabilities	1,349.5	1,417.6	1,143.0	1,199.5	1,184.3
Other Liabilities, Total	12,562.8	9,886.7	9,366.7	9,153.7	7,396.5
Total Liabilities	52,533.7	48,078.3	50,964.1	48,481.6	46,273.4
Common Stock	1,554.3	1,526.6	1,577.7	1,687.3	1,634.7
Common Stock	1,554.3	1,526.6	1,577.7	1,687.3	1,634.7
Additional Paid-In Capital	4,213.6	4,158.0	4,314.4	4,632.8	4,505.2
Retained Earnings (Accumulated Deficit)	26,574.1	25,243.8	21,219.3	18,531.2	18,418.2
Other Comprehensive Income	145.4	407.6	1,603.2	223.8	-133.4
Other Equity, Total	145.4	407.6	1,603.2	223.8	-133.4
Total Equity	32,487.4	31,336.0	28,714.5	25,075.1	24,424.6
Total Liabilities & Shareholders’ Equity	85,021.1	79,414.3	79,678.7	73,556.8	70,697.9
Shares Outstanding - Common Stock Primary Issue	918.5	918.5	918.5	918.5	918.5
Total Common Shares Outstanding	918.5	918.5	918.5	918.5	918.5
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	4.6
Employees	113,262	108,321	109,140	104,779	96,924
Number of Common Shareholders	400,000	400,000	400,000	460,000	460,000
Accumulated Intangible Amort, Suppl.	3,641.3	4,146.3	4,007.2	4,094.8	3,501.5
Deferred Revenue - Current	647.6	519.3	379.7	331.4	353.1
Deferred Revenue - Long Term	51.5	224.6	0.0	261.1	226.6
Total Long Term Debt, Supplemental	17,651.3	16,881.1	20,175.6	21,261.6	20,175.2
Long Term Debt Maturing within 1 Year	5,606.7	5,173.1	4,519.7	3,407.5	8,651.7
Long Term Debt Maturing in Year 2	1,788.3	1,964.1	4,174.9	1,955.6	1,427.6
Long Term Debt Maturing in Year 3	4,360.3	2,549.6	2,817.3	4,400.4	1,947.5
Long Term Debt Maturing in Year 4	1,196.1	2,900.1	1,772.2	2,977.1	1,971.1
Long Term Debt Maturing in Year 5	1,095.7	2,000.4	3,406.2	1,906.8	2,778.7
Long Term Debt Maturing in 2-3 Years	6,148.6	4,513.7	6,992.2	6,355.9	3,375.0
Long Term Debt Maturing in 4-5 Years	2,291.8	4,900.5	5,178.4	4,883.9	4,749.8
Long Term Debt Matur. in Year 6 & Beyond	3,604.3	2,293.8	3,485.3	6,614.2	3,398.7
Interest Costs	-44.9	-57.1	-37.6	-38.7	-40.3
Total Capital Leases, Supplemental	113.7	131.1	128.8	113.3	111.2
Capital Lease Payments Due in Year 1	31.7	36.3	47.0	33.0	27.8
Capital Lease Payments Due in Year 2	29.1	27.3	33.5	38.7	27.8
Capital Lease Payments Due in Year 3	21.1	23.4	20.1	23.0	30.6
Capital Lease Payments Due in Year 4	17.2	16.9	16.1	10.0	15.3
Capital Lease Payments Due in Year 5	10.6	16.9	13.4	8.6	9.7
Capital Lease Payments Due in 2-3 Years	50.2	50.6	53.7	61.7	58.4
Capital Lease Payments Due in 4-5 Years	27.8	33.8	29.5	18.7	25.0
Cap. Lease Pymts. Due in Year 6 & Beyond	48.9	67.5	36.2	38.7	40.3
Total Operating Leases, Supplemental	2,120.0	2,338.0	3,179.5	1,947.0	2,014.2
Operating Lease Payments Due in Year 1	856.5	804.9	698.9	539.5	389.2
Operating Lease Payments Due in Year 2	341.0	292.1	407.8	297.0	276.6
Operating Lease Payments Due in Year 3	257.7	257.0	324.7	243.9	222.4
Operating Lease Payments Due in Year 4	159.9	228.5	194.5	198.0	189.0
Operating Lease Payments Due in Year 5	121.6	171.4	1,082.6	167.9	164.0
Operating Lease Pymts. Due in 2-3 Years	598.7	549.1	732.5	540.9	499.0
Operating Lease Pymts. Due in 4-5 Years	281.5	399.8	1,277.2	365.9	353.1
Oper. Lse. Pymts. Due in Year 6 & Beyond	383.3	584.2	470.9	500.7	772.9
Pension Obligation - Domestic	29,237.4	24,162.5	23,738.7	21,900.0	16,422.1
Plan Assets - Domestic	22,124.0	20,214.8	20,426.4	19,813.9	14,352.3
Funded Status - Domestic	-7,113.4	-3,947.7	-3,312.3	-2,086.1	-2,069.8
Unfunded Plan Obligations	3,222.3	2,800.1	2,687.1	2,104.8	1,063.4
Total Funded Status	-10,335.7	-6,747.8	-5,999.4	-4,190.9	-3,133.2
Discount Rate - Domestic	3.50%	5.00%	5.00%	5.50%	6.00%
Discount Rate - Foreign	3.46%	4.34%	4.74%	5.17%	5.86%
Discount Rate - Post-Retirement	8.00%	8.00%	8.00%	8.00%	7.50%
Compensation Rate - Domestic	2.75%	2.75%	2.75%	2.75%	2.75%
Compensation Rate - Foreign	3.51%	3.71%	3.79%	3.91%	4.44%
Pension Payment Rate - Domestic	2.00%	2.00%	1.75%	2.00%	2.00%
Pension Payment Rate - Foreign	0.63%	0.70%	1.00%	0.92%	0.51%
Prepaid Benefits - Domestic	56.8	166.2	348.8	787.7	229.4
Accrued Liabilities - Domestic	-7,216.5	-4,139.8	-3,726.8	-3,235.4	-1,745.9
Accrued Liabilities - Post-Retirement	-	-	-	-	-633.9
Net Assets Recognized on Balance Sheet	-7,159.7	-3,973.6	-3,378.0	-2,447.7	-2,150.4
Equity % - Domestic	29.00%	28.00%	31.00%	27.00%	22.00%
Debt Securities % - Domestic	61.00%	63.00%	60.00%	63.00%	66.00%
Real Estate % - Domestic	4.00%	4.00%	4.00%	5.00%	4.00%
Other Investments % - Domestic	6.00%	5.00%	5.00%	5.00%	8.00%
Total Plan Obligations	32,459.7	26,962.6	26,425.9	24,004.8	17,485.4
Total Plan Assets	22,124.0	20,214.8	20,426.4	19,813.9	14,352.3

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Restated Normal 31-Dec-2011	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078	0.719047	0.683679
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Depreciation	4,575.7	4,754.0	4,493.6	5,201.3	4,651.3
Depreciation/Depletion	4,575.7	4,754.0	4,493.6	5,201.3	4,651.3
Unusual Items	-562.8	-2,124.6	-109.9	-73.7	-1.5
Other Non-Cash Items	-403.5	-94.6	361.6	-547.9	396.4
Non-Cash Items	-966.3	-2,219.2	251.6	-621.7	394.9
Accounts Receivable	-1,441.7	-62.6	-2,435.5	2,871.9	-1,080.9
Inventories	-822.4	-1,722.8	-1,776.0	1,521.5	198.9
Other Liabilities	1,037.0	525.6	1,986.5	-3,016.5	-1,076.5
Other Operating Cash Flow	2.6	-4.2	95.4	-	26.3
Changes in Working Capital	-1,224.6	-1,263.9	-2,129.6	1,376.8	-1,932.2
Cash from Operating Activities	8,654.2	9,875.0	8,650.8	7,917.4	7,373.3
Purchase of Fixed Assets	-5,331.3	-4,741.4	-3,374.5	-3,486.6	-3,687.4
Capital Expenditures	-5,331.3	-4,741.4	-3,374.5	-3,486.6	-3,687.4
Acquisition of Business	-1,340.2	-205.8	-801.2	-2,098.6	-931.7
Sale of Business	930.3	924.7	56.9	86.2	106.8
Sale of Fixed Assets	673.3	2,087.1	1,157.5	713.4	879.1
Investment, Net	-185.0	-481.1	-635.7	-891.5	-1,427.6
Other Investing Cash Flow Items, Total	78.4	2,324.8	-222.5	-2,190.4	-1,373.5
Cash from Investing Activities	-5,252.9	-2,416.6	-3,597.0	-5,677.0	-5,060.9
Other Financing Cash Flow	-443.3	-635.4	-490.0	-414.4	-476.8
Financing Cash Flow Items	-443.3	-635.4	-490.0	-414.4	-476.8
Cash Dividends Paid - Common	-2,950.3	-2,810.1	-2,067.3	-2,490.8	-2,678.2
Total Cash Dividends Paid	-2,950.3	-2,810.1	-2,067.3	-2,490.8	-2,678.2
Repurchase/Retirement of Common	-	-	-	-	-2,366.6
Common Stock, Net	-1.3	44.5	-23.8	-186.4	-2,300.8
Issuance (Retirement) of Stock, Net	-1.3	44.5	-23.8	-186.4	-2,300.8
Long Term Debt Issued	6,431.2	3,206.4	4,872.3	7,249.9	9,172.4
Long Term Debt Reduction	-6,798.7	-6,504.5	-7,911.8	-7,713.0	-3,045.3
Long Term Debt, Net	-367.5	-3,298.2	-3,039.4	-463.1	6,127.1
Issuance (Retirement) of Debt, Net	-367.5	-3,298.2	-3,039.4	-463.1	6,127.1
Cash from Financing Activities	-3,762.4	-6,699.2	-5,620.6	-3,554.7	671.4
Foreign Exchange Effects	12.8	12.5	113.9	5.6	-45.3
Net Change in Cash	-348.2	771.7	-452.9	-1,308.7	2,938.5
Net Cash - Beginning Balance	2,631.6	2,075.9	2,430.2	3,860.7	1,121.9
Net Cash - Ending Balance	2,283.4	2,847.6	1,977.3	2,552.0	4,060.4
Cash Interest Paid	737.6	817.6	846.3	726.0	681.6
Cash Taxes Paid	4,560.3	2,377.7	2,716.3	2,294.7	4,859.0

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078	0.719047	0.683679
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG AG	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	101,163.3	102,194.2	84,591.2	70,500.3	91,130.5
Total Revenue	101,163.3	102,194.2	84,591.2	70,500.3	91,130.5
Cost of Sales	74,555.7	75,065.1	60,007.0	51,014.8	67,948.5
Selling	9,822.2	10,182.3	8,873.3	7,881.3	8,449.9
General & Admin.	1,788.7	1,828.4	1,507.1	1,575.7	1,547.5
Research/Development	2,243.5	2,231.7	1,976.0	1,944.2	1,981.9
Other Operating Income	-1,177.0	-1,464.1	-994.6	-1,543.7	-1,804.9
Gain on Sale of Assets	-900.8	-926.0	-133.8	-109.9	-102.4
Wite-ups of Tangibles	-	0.0	-53.0	0.0	-
Investments	-134.9	-401.8	-328.4	-	-
Other Expenses	1,852.9	1,722.8	1,464.7	2,816.2	2,414.9
Impairments of Intangibles	-	-	-	-	54.1
Impairments of Fixed Assets	-	-	-	-	371.5
Restructuring Measures	253.1	324.0	365.5	762.1	215.0
Amortization & Depreciation	484.4	508.9	327.1	997.2	561.7
Loss on Sale of Assets	60.4	55.6	31.8	48.7	39.5
Investment Losses	781.3	1,129.0	1,270.1	-	-
Total Operating Expense	89,629.6	90,255.8	74,312.8	65,386.6	81,677.2
Income from Associates	219.7	66.7	266.2	84.8	-96.5
Other Income from Participations	96.4	1,343.2	181.4	155.8	108.2
Other Expenses from Participations	-55.3	-41.7	-51.7	-55.6	-119.9
Securities Income	1.3	1.4	1.3	-	-
Interest Capitalized	87.4	101.5	86.1	-	-
Interest Income	230.0	262.8	198.7	186.4	254.5
Interest Expense	-966.3	-1,060.9	-1,023.7	-1,020.8	-879.1
Other Interest Expenses	-78.4	-93.2	-78.1	-	-
Investments	-23.1	-4.2	-6.6	-	-
Other Financial Expenses	-1,311.9	-1,202.7	-1,146.9	-1,243.3	-1,108.7
Other Financial Income	1,106.3	1,161.0	1,059.5	1,061.1	1,129.2
Net Income Before Taxes	10,839.9	12,472.4	9,764.6	4,282.1	8,740.9
Provision for Income Taxes	4,129.8	3,291.2	3,044.7	1,980.4	3,906.8
Net Income After Taxes	6,710.0	9,181.2	6,719.8	2,301.7	4,834.1
Minority Interests	-440.7	-577.0	-684.7	-340.7	-574.8
Net Income Before Extra. Items	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Net Income	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Income Available to Com Excl ExtraOrd	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Income Available to Com Incl ExtraOrd	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Basic Weighted Average Shares	918.5	918.5	918.5	918.5	930.1
Basic EPS Excluding ExtraOrdinary Items	6.83	9.37	6.57	2.13	4.58
Basic EPS Including ExtraOrdinary Items	6.83	9.37	6.57	2.13	4.58
Diluted Net Income	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Diluted Weighted Average Shares	918.5	918.5	918.5	918.5	930.1
Diluted EPS Excluding ExtraOrd Items	6.83	9.37	6.57	2.13	4.58
Diluted EPS Including ExtraOrd Items	6.83	9.37	6.57	2.13	4.58
DPS-Ordinary Shares	3.34	3.48	2.91	2.36	2.85
Gross Dividends - Common Stock	3,068.5	3,198.0	2,676.1	2,170.9	2,619.6
Normalized Income Before Taxes	10,252.7	11,925.9	9,975.1	4,983.0	9,318.7
Inc Tax Ex Impact of Sp Items	3,906.1	3,147.0	3,110.4	2,304.6	4,165.0
Normalized Income After Taxes	6,346.5	8,778.9	6,864.7	2,678.4	5,153.7
Normalized Inc. Avail to Com.	5,905.8	8,201.9	6,180.1	2,337.7	4,578.8
Basic Normalized EPS	6.43	8.93	6.73	2.55	4.92
Diluted Normalized EPS	6.43	8.93	6.73	2.55	4.92
Research & Development Expenses	2,243.5	2,231.7	1,976.0	1,944.2	1,981.9
Interest Expenses	957.3	1,052.6	1,101.9	1,020.8	879.1
Amortisation of Intangibles	886.6	1,081.8	931.0	1,219.7	880.5
Depreciation	3,662.1	3,640.2	3,532.1	3,635.4	3,628.9
Interest Capitalized	-87.4	-101.5	-86.1	-80.7	-62.9
Current Tax -German	582.1	472.8	815.8	287.9	551.4
Current Tax-Foreign	4,042.5	1,974.4	2,123.0	1,920.6	4,067.7
Current Tax-Other	-422.8	38.9	-194.7	-43.1	-304.2
Current Tax - Total	4,201.8	2,486.1	2,744.1	2,165.4	4,314.9
Deferred Taxes	-72.0	805.1	300.6	-185.0	-409.5
Deferred Tax - Total	-72.0	805.1	300.6	-185.0	-409.5
Income Tax - Total	4,129.8	3,291.2	3,044.7	1,980.4	3,905.3
Service Cost - Pension	332.8	347.6	291.4	339.3	365.7
Interest Cost - Pension	1,096.1	1,156.9	1,084.7	1,086.2	958.1
Amort. of Prior Service Cost - Pension	-2.6	-8.3	-2.6	-4.2	-4.4
Settlement (Gains)/Losses - Pension	-96.4	7.0	-5.3	-296.2	-33.6
Expected Return on Assets - Pension	-1,052.4	-1,137.4	-1,013.1	-938.7	-990.2
Domestic Pension Plan Expense	277.6	365.7	354.9	186.4	295.5
Defined Contribution Plans	314.8	300.3	256.9	208.6	125.8
Total Pension Expense	592.4	666.0	611.9	395.0	421.3
Discount Rate - Germany	5.00%	5.00%	5.50%	6.00%	5.25%
Compensation Rate - Germany	2.75%	2.75%	2.75%	2.75%	2.75%
Pension Payment Rate - Germany	2.00%	1.75%	2.00%	2.00%	2.00%
Expected Rate of Return - Germany	5.28%	5.28%	5.13%	5.42%	5.18%
Discount Rate - Foreign	4.34%	4.74%	5.17%	5.59%	5.87%
Compensation Rate - Foreign	3.71%	3.79%	3.91%	3.82%	4.56%
Pension Payment Rate - Foreign	0.70%	1.00%	0.92%	0.76%	0.60%
Expected Rate of Return - Foreign	5.66%	5.49%	6.28%	6.60%	7.20%
Discount Rate - Post Retirement	8.00%	8.00%	8.00%	7.50%	8.00%

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406	0.696986	0.719399
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG AG	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Raw Materials	3,700.8	3,793.2	3,255.9	2,647.1	2,459.0
Work in Process	9,275.7	9,131.2	8,278.7	6,972.9	6,844.6
Construction	148.0	133.7	120.7	101.9	97.3
Trade Receivables, Gross	13,910.9	14,683.4	14,173.5	11,601.4	11,201.0
Provision for Doubtful Accounts	-511.5	-551.7	-533.9	-499.3	-425.4
Receivables from Associates	531.3	937.3	759.3	843.6	753.4
Other Assets	2,438.5	2,534.0	3,013.1	2,297.0	3,540.5
Prepaid Expenses	256.4	257.0	217.3	256.8	271.1
ST Financial Assets	2.6	24.7	81.8	130.6	125.1
Other Receivables & Other Assets	1,402.3	1,155.4	1,137.6	1,096.1	797.9
Investments	30.4	24.7	21.5	21.5	48.7
Cash & Equivalents	2,348.7	2,658.6	2,002.9	2,632.8	3,858.8
Assets Held for Disposal	4,516.3	383.0	823.7	-	0.0
Total Current Assets	38,050.5	35,164.3	33,352.3	28,102.4	29,571.9
Goodwill	8,439.1	7,739.6	7,878.9	7,272.7	6,600.0
Intangibles, Gross	11,381.2	11,879.4	12,555.6	11,813.7	10,647.8
Amortization	-3,641.3	-4,146.3	-4,007.2	-4,094.8	-3,501.5
Land/Buildings	11,890.0	11,597.7	11,796.2	11,579.9	10,383.7
Machinery/Equip.	55,581.5	55,097.4	53,459.4	55,715.6	51,402.7
Equip./Fixtures	4,440.9	4,124.2	4,085.0	4,212.4	3,915.8
Constr. in Prog.	4,524.2	3,698.4	4,085.0	3,017.3	2,614.7
Depreciation	-52,412.1	-51,195.1	-50,296.1	-51,160.3	-47,421.6
Investments At-Equity	2,702.9	2,404.2	1,781.6	1,922.6	1,593.0
Financials Asset	1,163.1	1,100.8	2,620.0	2,322.9	2,706.4
Deferred Taxes	2,042.0	1,221.6	1,491.8	1,495.0	1,292.7
Receivables	190.3	115.5	81.8	-	-
Other LT Assets	668.8	612.7	794.2	1,357.3	892.4
Total Assets	85,021.1	79,414.3	79,678.7	73,556.8	70,697.9
Accounts Payable	6,206.7	6,647.8	6,356.3	3,997.2	3,800.4
Taxes	1,427.4	1,347.5	1,529.4	1,439.1	1,195.4
ST Provisions	3,551.4	4,167.1	4,459.3	4,700.2	4,229.9
Short-term Debt	5,606.7	5,173.1	4,519.7	3,407.5	8,651.7
Current Portion of Capital Leases	14.5	13.0	13.4	25.8	20.9
Customer Advances	383.3	353.1	379.7	331.4	353.1
Accrued Expenses	593.4	585.5	1,200.7	866.6	209.9
Deferred Income	264.3	166.2	-	-	-
Other ST Liabilities	1,909.9	2,823.5	2,165.3	1,990.0	4,189.6
Liabilities Held for Disposal	2,950.0	112.9	261.6	-	0.0
Total Current Liabilities	22,907.7	21,389.6	20,885.3	16,757.9	22,650.9
Bank Debt	12,044.7	11,708.0	15,655.9	17,854.0	11,523.5
Capital Leases	81.9	64.9	65.7	89.0	90.4
Total Long Term Debt	12,126.6	11,772.9	15,721.6	17,943.0	11,613.9
Pension Provision	7,216.5	4,139.8	3,726.8	3,235.4	2,379.8
Other Provisions	3,996.8	4,329.3	4,496.9	4,718.9	3,832.4
Deferred Taxes	3,318.8	3,411.5	3,309.6	3,002.9	3,012.2
Other LT Liabilities	1,349.5	1,417.6	1,143.0	1,199.5	1,184.3
Minority Interest	1,617.8	1,617.5	1,681.0	1,624.1	1,599.9
Total Liabilities	52,533.7	48,078.3	50,964.1	48,481.6	46,273.4
Common Stock	1,554.3	1,526.6	1,577.7	1,687.3	1,634.7
Paid-in Capital	4,213.6	4,158.0	4,314.4	4,632.8	4,505.2
Retained Earnings	26,574.1	25,243.8	21,219.3	18,531.2	18,418.2
Other Comprehensive Income	145.4	407.6	1,603.2	223.8	-133.4
Total Equity	32,487.4	31,336.0	28,714.5	25,075.1	24,424.6
Total Liabilities & Shareholders' Equity	85,021.1	79,414.3	79,678.7	73,556.8	70,697.9
S/O-Ordinary Shares	918.5	918.5	918.5	918.5	918.5
Total Common Shares Outstanding	918.5	918.5	918.5	918.5	918.5
T/S-Ordinary Shares	0.0	0.0	0.0	0.0	4.6
Deferred Revenue- ST	383.3	353.1	379.7	331.4	353.1
Deferred Income	264.3	166.2	-	-	-
Deferred Revenue- LT	51.5	224.6	0.0	261.1	226.6
Accumulated Intangible Amortisation	3,641.3	4,146.3	4,007.2	4,094.8	3,501.5
Full-Time Employees	113,262	108,321	109,140	104,779	96,924
Number of Common Shareholders	400,000	400,000	400,000	460,000	460,000
LTD < 1 Year	5,606.7	5,173.1	4,519.7	3,407.5	8,651.7
LTD 1-2 Years	1,788.3	1,964.1	4,174.9	1,955.6	1,427.6
LTD 2-3 Years	4,360.3	2,549.6	2,817.3	4,400.4	1,947.5
LTD 3-4 Years	1,196.1	2,900.1	1,772.2	2,977.1	1,971.1
LTD 4-5 Years	1,095.7	2,000.4	3,406.2	1,906.8	2,778.7
LTD > 5 Years	3,604.3	2,293.8	3,485.3	6,614.2	3,398.7
Total Long Term Debt, Supplemental	17,651.3	16,881.1	20,175.6	21,261.6	20,175.2
Financing Leases due within 1 Year	31.7	36.3	47.0	33.0	27.8
Financing Leases due within 2 Years	29.1	27.3	33.5	38.7	27.8
Financing Leases due within 3 Years	21.1	23.4	20.1	23.0	30.6
Financing Leases due within 4 Years	17.2	16.9	16.1	10.0	15.3
Financing Leases due within 5 Years	10.6	16.9	13.4	8.6	9.7
Financing Leases due after 5 Years	48.9	67.5	36.2	38.7	40.3
Interest Portion	-44.9	-57.1	-37.6	-38.7	-40.3
Total Capital Leases, Supplemental	113.7	131.1	128.8	113.3	111.2
Rental & Lease Contracts < 1 Year	856.5	804.9	698.9	539.5	389.2
Rental & Lease Contracts 1-2 Years	341.0	292.1	407.8	297.0	276.6
Rental & Lease Contracts 2-3 Years	257.7	257.0	324.7	243.9	222.4
Rental & Lease Contracts 3-4 Years	159.9	228.5	194.5	198.0	189.0
Rental & Lease Contracts 4-5 Years	121.6	171.4	-	167.9	164.0
Rental & Lease Contracts 1-5 Years	-	-	1,082.6	-	-
Rental & Lease Contracts > 5 Years	383.3	584.2	470.9	500.7	772.9
Total Operating Leases, Supplemental	2,120.0	2,338.0	3,179.5	1,947.0	2,014.2
Funded DB Obligation - Pension	29,237.4	24,162.5	23,738.7	21,900.0	16,422.1
FV of Plan Assets - Pension	22,124.0	20,214.8	20,426.4	19,813.9	14,352.3
Funded Status - Pension	-7,113.4	-3,947.7	-3,312.3	-2,086.1	-2,069.8
Unfunded DB Obligations - Pension	3,222.3	2,800.1	2,687.1	2,104.8	1,063.4
Total Funded Status	-10,335.7	-6,747.8	-5,999.4	-4,190.9	-3,133.2
Discount Rate - Germany	3.50%	5.00%	5.00%	5.50%	6.00%
Compensation Rate - Germany	2.75%	2.75%	2.75%	2.75%	2.75%
Pension Payment Rate - Germany	2.00%	2.00%	1.75%	2.00%	2.00%
Discount Rate - Foreign	3.46%	4.34%	4.74%	5.17%	5.86%
Compensation Rate - Foreign	3.51%	3.71%	3.79%	3.91%	4.44%
Pension Payment Rate - Foreign	0.63%	0.70%	1.00%	0.92%	0.51%
Discount Rate - Post Retirement	8.00%	8.00%	8.00%	8.00%	7.50%
Prepaid Assets - Pension	56.8	166.2	348.8	787.7	229.4
Provisions - Pension	-7,216.5	-4,139.8	-3,726.8	-3,235.4	-1,745.9
Provisions for Similar Oblig. - Post Ret	-	-	-	-	-633.9
Net Assets Recognized on Balance Sheet	-7,159.7	-3,973.6	-3,378.0	-2,447.7	-2,150.4
Equities % - Pension	29.00%	28.00%	31.00%	27.00%	22.00%
Debt Securities % - Pension	61.00%	63.00%	60.00%	63.00%	66.00%
Real Estate % - Pension	4.00%	4.00%	4.00%	5.00%	4.00%
Other % - Pension	6.00%	5.00%	5.00%	5.00%	8.00%

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2012	Updated Normal 31-Dec-2011	Restated Normal 31-Dec-2011	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008
Filed Currency	EUR	EUR	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078	0.719047	0.683679
Auditor	KPMG AG	KPMG AG	KPMG AG	KPMG AG	KPMG LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income	6,269.3	8,604.1	6,035.1	1,960.9	4,259.3
Depreciation	4,575.7	4,754.0	4,493.6	5,201.3	4,651.3
Pensions & Other Provisions	-403.5	-94.6	361.6	-547.9	396.4
Disposal of Assets	-562.8	-2,124.6	-109.9	-73.7	-1.5
Inventories	-822.4	-1,722.8	-1,776.0	1,521.5	198.9
Receivables	-1,441.7	-62.6	-2,435.5	2,871.9	-1,080.9
Other Liabilities	1,037.0	525.6	1,986.5	-3,016.5	-1,076.5
Consolidation	2.6	-4.2	95.4	-	26.3
Cash from Operating Activities	8,654.2	9,875.0	8,650.8	7,917.4	7,373.3
Capital Expenditures	-5,331.3	-4,741.4	-3,374.5	-3,486.6	-3,687.4
Financial Investments	-185.0	-481.1	-635.7	-891.5	-1,427.6
Acquisitions	-1,340.2	-205.8	-801.2	-2,098.6	-931.7
Divestitures	930.3	924.7	56.9	86.2	106.8
Dispososal of Fixed Assets	673.3	2,087.1	1,157.5	713.4	879.1
Cash from Investing Activities	-5,252.9	-2,416.6	-3,597.0	-5,677.0	-5,060.9
Shares Issued	-1.3	44.5	-23.8	-186.4	65.8
Share Repurchase	-	-	-	-	-2,366.6
Debt Issued	6,431.2	3,206.4	4,872.3	7,249.9	9,172.4
Debt Repaid	-6,798.7	-6,504.5	-7,911.8	-7,713.0	-3,045.3
Dividends	-2,950.3	-2,810.1	-2,067.3	-2,490.8	-2,678.2
Minority Interest	-443.3	-635.4	-490.0	-414.4	-476.8
Cash from Financing Activities	-3,762.4	-6,699.2	-5,620.6	-3,554.7	671.4
Foreign Exchange Effects	12.8	12.5	113.9	5.6	-45.3
Net Change in Cash	-348.2	771.7	-452.9	-1,308.7	2,938.5
Net Cash - Beginning Balance	2,631.6	2,075.9	2,430.2	3,860.7	1,121.9
Net Cash - Ending Balance	2,283.4	2,847.6	1,977.3	2,552.0	4,060.4
Cash Interest Paid	737.6	817.6	846.3	726.0	681.6
Cash Taxes Paid	4,560.3	2,377.7	2,716.3	2,294.7	4,859.0

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 30-Jun-2013	Quarter Ending Yr Ago	Annual Year End 31-Dec-2012	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1 (?)	23,964.5	2.90%	101,163.3	7.12%	15.81%	6.32%
Research & Development1 (?)	594.1	7.82%	2,243.5	8.79%	7.69%	4.82%
Operating Income1 (?)	2,240.7	4.76%	11,533.8	4.54%	34.65%	4.17%
Income Available to Common Excl Extraord Items1 (?)	1,510.8	-4.22%	6,269.3	-21.15%	51.25%	3.72%
Basic EPS Excl Extraord Items1 (?)	1.64	-4.22%	6.83	-21.15%	51.25%	5.02%
Capital Expenditures2 (?)	2,474.0	16.58%	5,331.3	21.67%	18.28%	10.12%
Cash from Operating Activities2 (?)	5,292.1	18.15%	8,654.2	-5.17%	5.76%	3.07%
Free Cash Flow (?)	2,797.8	19.55%	3,417.9	-29.96%	-6.72%	-4.34%
Total Assets3 (?)	83,958.5	2.71%	85,021.1	5.15%	7.86%	6.57%
Total Liabilities3 (?)	51,185.5	0.44%	52,533.7	7.32%	5.56%	7.51%
Total Long Term Debt3 (?)	14,038.5	27.75%	12,126.6	1.17%	-9.81%	5.70%
Employees3 (?)	-	-	113262	4.56%	2.63%	3.54%
Total Common Shares Outstanding3 (?)	918.5	0.00%	918.5	0.00%	0.00%	-0.81%
1-ExchangeRate: EUR to USD Average for Period	0.765841	Â	0.778237	Â	Â	Â
2-ExchangeRate: EUR to USD Average for Period	0.761519	Â	0.778237	Â	Â	Â
3-ExchangeRate: EUR to USD Period End Date	0.767034	Â	0.756600	Â	Â	Â

Key Ratios
Â	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Profitability
Gross Margin (?)	26.30%	26.55%	29.06%	27.64%	25.44%
Operating Margin (?)	11.40%	11.68%	12.15%	7.25%	10.37%
Pretax Margin (?)	10.72%	12.20%	11.54%	6.07%	9.59%
Net Profit Margin (?)	6.20%	8.42%	7.13%	2.78%	4.67%
Financial Strength
Current Ratio (?)	1.66	1.64	1.60	1.68	1.31
Long Term Debt/Equity (?)	0.37	0.38	0.55	0.72	0.48
Total Debt/Equity (?)	0.55	0.54	0.71	0.85	0.83
Management Effectiveness
Return on Assets (?)	8.32%	10.95%	9.17%	3.24%	6.77%
Return on Equity (?)	20.03%	27.17%	23.44%	8.05%	15.87%
Efficiency
Receivables Turnover (?)	6.53	6.08	6.13	5.59	6.28
Inventory Turnover (?)	5.81	5.76	5.86	5.42	6.96
Asset Turnover (?)	1.25	1.22	1.15	0.99	1.28

Market Valuation USD (mil)
P/E (TTM) (?)	13.41	.	Enterprise Value2 (?)	96,685.4
Price/Sales (TTM) (?)	0.79	.	Enterprise Value/Revenue (TTM) (?)	0.97
Price/Book (MRQ) (?)	2.42	.	Enterprise Value/EBITDA (TTM) (?)	6.80
Market Cap as of 30-Aug-20131 (?)	80,399.3	.
1-ExchangeRate: EUR to USD on 30-Aug-2013	0.755467
2-ExchangeRate: EUR to USD on 30-Jun-2013	0.767034

Ratio Comparisons

	Company	Industry	Sector	S&P 500
Valuation Ratios
P/E Excluding Extraordinary (TTM) (?)	13.41	23.47	24.91	19.68
P/E High Excluding Extraordinary - Last 5 Yrs (?)	28.26	29.37	40.00	32.79
P/E Low Excluding Extraordinary - Last 5 Yrs (?)	8.00	11.37	8.69	10.71
Beta (?)	1.71	1.21	1.47	1.00
Price/Revenue (TTM) (?)	0.79	2.41	2.38	2.57
Price/Book (MRQ) (?)	2.42	4.13	3.90	3.67
Price to Tangible Book (MRQ) (?)	4.73	7.79	5.81	5.21
Price to Cash Flow Per Share (TTM) (?)	7.47	14.85	13.98	14.22
Price to Free Cash Flow Per Share (TTM) (?)	121.18	40.81	37.21	26.26
Dividends
Dividend Yield (?)	3.89%	1.82%	1.75%	2.26%
Dividend Per Share - 5 Yr Avg (?)	2.90	2.13	2.50	1.99
Dividend 5 Yr Growth (?)	5.92%	10.42%	1.06%	0.08%
Payout Ratio (TTM) (?)	52.73%	31.59%	29.68%	25.98%
Growth Rates (%)
Revenue (MRQ) vs Qtr 1 Yr Ago (?)	2.90%	20.41%	20.15%	15.58%
Revenue (TTM) vs TTM 1 Yr Ago (?)	6.08%	15.77%	23.47%	17.69%
Revenue 5 Yr Growth (?)	6.32%	6.26%	7.38%	8.97%
EPS (MRQ) vs Qtr 1 Yr Ago (?)	-4.22%	2.09%	13.63%	19.49%
EPS (TTM) vs TTM 1 Yr Ago (?)	-13.47%	12.44%	42.74%	32.55%
EPS 5 Yr Growth (?)	5.02%	19.42%	8.05%	9.86%
Capital Spending 5 Yr Growth (?)	10.12%	11.74%	9.93%	-2.04%
Financial Strength
Quick Ratio (MRQ) (?)	1.16	1.35	1.78	1.24
Current Ratio (MRQ) (?)	1.74	2.18	2.73	1.79
LT Debt/Equity (MRQ) (?)	0.43	0.76	0.81	0.64
Total Debt/Equity (MRQ) (?)	0.58	0.82	0.88	0.73
Interest Coverage (TTM) (?)	8.29	13.67	11.21	13.80
Profitability Ratios (%)
Gross Margin (TTM) (?)	25.55%	33.98%	32.32%	45.21%
Gross Margin - 5 Yr Avg (?)	26.93%	32.62%	31.54%	44.91%
EBITD Margin (TTM) (?)	13.97%	19.75%	22.23%	24.43%
EBITD Margin - 5 Yr Avg (?)	16.98%	17.18%	18.43%	22.84%
Operating Margin (TTM) (?)	9.86%	14.67%	16.99%	20.63%
Operating Margin - 5 Yr Avg (?)	10.78%	13.24%	13.64%	18.28%
Pretax Margin (TTM) (?)	9.02%	14.52%	15.86%	17.95%
Pretax Margin - 5 Yr Avg (?)	10.28%	12.15%	12.57%	17.10%
Net Profit Margin (TTM) (?)	6.33%	10.56%	11.55%	13.65%
Net Profit Margin - 5 Yr Avg (?)	6.64%	8.73%	8.64%	12.10%
Effective Tax Rate (TTM) (?)	29.80%	27.39%	28.04%	28.45%
Effective Tax rate - 5 Yr Avg (?)	35.39%	27.15%	29.65%	29.92%
Management Effectiveness (%)
Return on Assets (TTM) (?)	7.65%	8.26%	8.05%	8.54%
Return on Assets - 5 Yr Avg (?)	7.86%	7.52%	7.49%	8.40%
Return on Investment (TTM) (?)	10.64%	6.33%	5.86%	7.90%
Return on Investment - 5 Yr Avg (?)	11.07%	5.79%	5.78%	8.27%
Return on Equity (TTM) (?)	18.58%	22.07%	18.78%	19.72%
Return on Equity - 5 Yr Avg (?)	19.47%	19.44%	17.45%	20.06%
Efficiency
Revenue/Employee (TTM) (?)	895,817.90	665,165.50	613,510.56	927,613.77
Net Income/Employee (TTM) (?)	56,749.49	84,229.57	82,492.56	116,121.92
Receivables Turnover (TTM) (?)	6.87	7.02	8.71	13.25
Inventory Turnover (TTM) (?)	5.89	8.06	8.16	14.53
Asset Turnover (TTM) (?)	1.21	0.80	0.82	0.93

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2012	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008
Financial Strength
Current Ratio (?)	1.66	1.64	1.60	1.68	1.31
Quick/Acid Test Ratio (?)	0.77	0.89	0.84	0.94	0.72
Working Capital1 (?)	15,142.7	13,774.7	12,467.0	11,344.6	6,921.1
Long Term Debt/Equity (?)	0.37	0.38	0.55	0.72	0.48
Total Debt/Equity (?)	0.55	0.54	0.71	0.85	0.83
Long Term Debt/Total Capital (?)	0.24	0.24	0.32	0.39	0.26
Total Debt/Total Capital (?)	0.35	0.35	0.41	0.46	0.45
Payout Ratio (?)	48.95%	37.11%	44.34%	110.73%	62.28%
Effective Tax Rate (?)	38.10%	26.39%	31.18%	46.25%	44.70%
Total Capital1 (?)	50,235.3	48,295.1	48,969.3	46,451.5	44,711.0
Efficiency
Asset Turnover (?)	1.25	1.22	1.15	0.99	1.28
Inventory Turnover (?)	5.81	5.76	5.86	5.42	6.96
Days In Inventory (?)	62.87	63.37	62.29	67.36	52.41
Receivables Turnover (?)	6.53	6.08	6.13	5.59	6.28
Days Receivables Outstanding (?)	55.91	59.99	59.50	65.30	58.16
Revenue/Employee2 (?)	918,722	880,809	785,128	694,145	893,542
Operating Income/Employee2 (?)	104,745	102,897	95,398	50,350	92,690
EBITDA/Employee2 (?)	146,055	143,596	136,822	98,152	136,905
Profitability
Gross Margin (?)	26.30%	26.55%	29.06%	27.64%	25.44%
Operating Margin (?)	11.40%	11.68%	12.15%	7.25%	10.37%
EBITDA Margin (?)	15.90%	16.30%	17.43%	14.14%	15.32%
EBIT Margin (?)	11.40%	11.68%	12.15%	7.25%	10.37%
Pretax Margin (?)	10.72%	12.20%	11.54%	6.07%	9.59%
Net Profit Margin (?)	6.20%	8.42%	7.13%	2.78%	4.67%
R&D Expense/Revenue (?)	2.22%	2.18%	2.34%	2.76%	2.17%
COGS/Revenue (?)	73.70%	73.45%	70.94%	72.36%	74.56%
SG&A Expense/Revenue (?)	11.48%	11.75%	12.27%	13.41%	10.97%
Management Effectiveness
Return on Assets (?)	8.32%	10.95%	9.17%	3.24%	6.77%
Return on Equity (?)	20.03%	27.17%	23.44%	8.05%	15.87%
Valuation
Free Cash Flow/Share2 (?)	3.72	5.22	5.82	4.98	3.81
Operating Cash Flow/Share 2 (?)	9.69	10.04	9.54	8.89	7.63
1-ExchangeRate: EUR to USD Period End Date	0.7566	0.770327	0.745406	0.696986	0.719399
2-ExchangeRate: EUR to USD Average for Period	0.7566	0.770327	0.745406	0.696986	0.719399

Current Market Multiples
Market Cap/Earnings (TTM) (?)	13.41
Market Cap/Equity (MRQ) (?)	2.42
Market Cap/Revenue (TTM) (?)	0.79
Market Cap/EBIT (TTM) (?)	7.94
Market Cap/EBITDA (TTM) (?)	5.57
Enterprise Value/Earnings (TTM) (?)	16.37
Enterprise Value/Equity (MRQ) (?)	2.95
Enterprise Value/Revenue (TTM) (?)	0.97
Enterprise Value/EBIT (TTM) (?)	9.70
Enterprise Value/EBITDA (TTM) (?)	6.80

BASF SE

Ludwigshafen Am Rhein, Germany, Tel: 49-621-600, URL: http://www.basf.com

Stock Report

Stock Snapshot

Traded: Over The Counter: BASFY

As of 30-Aug-2013    US Dollars

Recent Price	$87.40	EPS	$6.51
52 Week High	$104.10	Price/Sales	0.77
52 Week Low	$76.88	Dividend Rate	$3.40
Avg. Volume (mil)	0.04	Price/Earnings	13.95
Market Value (mil)	$80,418.11	Price/Book	2.47
		Beta	1.71

	Price % Change	Rel S&P 500%
4 Week	-3.44%	1.10%
13 Week	-10.27%	-10.40%
52 Week	14.26%	-2.07%
Year to Date	-8.00%	-19.65%

Source: Reuters

2 Year Weekly End Price & Volume

Stock History

Market Cap History
	30-Jun-13	% Chg	31-Mar-13	% Chg	31-Dec-12	% Chg	30-Sep-12	% Chg	30-Jun-12	% Chg
Total Common Shares Outstanding	918	0.0	918	0.0	918	0.0	918	0.0	918	0.0
Market Cap	82,194.7	1.9	80,642.4	-7.6	87,255.5	12.4	77,639.0	21.8	63,742.4	-20.7

Yearly Price History
	2013	% Chg	2012	% Chg	2011	% Chg	2010	% Chg	2009	% Chg
High Price	104.10	6.9	97.37	-5.5	103.09	24.9	82.53	29.3	63.84	-17.6
Low Price	85.24	34.1	63.55	11.8	56.82	15.5	49.19	93.6	25.41	3.9
Year End Price	87.40	-8.0	95.00	36.2	69.73	-12.8	79.96	28.8	62.10	58.0

Monthly Price History
Price Ending Date	Open	High	Low	Close	Volume
30-Aug-13	89.51	92.89	86.15	87.40	925,912
31-Jul-13	89.08	93.81	86.00	88.52	740,030
28-Jun-13	98.48	100.00	88.37	89.49	852,110
31-May-13	93.20	98.19	92.00	97.40	1,041,042
30-Apr-13	88.03	93.45	85.24	93.30	957,330
28-Mar-13	93.00	98.10	86.65	87.80	960,046
28-Feb-13	103.32	104.10	93.22	94.21	3,168,722
31-Jan-13	96.56	102.46	92.55	101.25	673,058
31-Dec-12	91.11	97.37	89.92	95.00	1,187,149
30-Nov-12	83.68	90.00	79.01	89.89	814,609
31-Oct-12	86.20	87.11	80.49	82.61	983,999
28-Sep-12	78.16	88.68	77.05	84.53	1,162,500
31-Aug-12	72.90	78.80	69.53	77.47	5,465,129

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.63
UK Pound	1	Rs.101.25
Euro	1	Rs.83.42

INFORMATION DETAILS

Report Prepared by :

NIS

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.