HomeMost PopularInvestingStrategic Alliance Between BASF (BASFY) and OQEMA in the UK & Ireland

Strategic Alliance Between BASF (BASFY) and OQEMA in the UK & Ireland

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BASF SE BASFY has fortified its collaboration with OQEMA, a prominent chemical distributor in Europe, for BASF’s standard amines portfolio (excluding ethanolamines) in the U.K. and Ireland starting from Jan 1, 2024.

The long-standing prosperous partnership between the two companies in Germany and Eastern Europe, spanning over two decades, has now expanded to the U.K. This collaboration integrates OQEMA’s extensive distribution network, local market expertise, and BASF’s renowned reputation for delivering top-tier, cost-effective products on a large scale.

This new venture offers OQEMA an opportunity for joint growth, empowering the company to broaden its product offering in amines and enhance its market presence. By partnering with OQEMA, BASF can effectively navigate supply chain challenges and enhance customer service while concentrating on its core competencies.

BASF’s Intermediates division specializes in the development, production, and distribution of over 600 intermediates globally. The division’s primary product categories include amines, diols, polyalcohols, acids, and specialty chemicals. These intermediates act as precursors for coatings, polymers, pharmaceuticals, textiles, detergents, and crop protection agents.

BASF’s cutting-edge intermediates not only elevate final product standards but also enhance production efficiency. The Intermediates division, equipped with ISO 9001 accreditation, operates manufacturing facilities across Europe, Asia, and North America.

During the last six months, BASF’s shares have surged by 4.9%, outperforming its industry which experienced a downturn of 9.2%.

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The Zacks Rank & Noteworthy Selections

BASF currently holds a Zacks Rank #5 (Strong Sell).

A few companies worth considering in the basic materials sector are United States Steel Corporation X, Carpenter Technology Corporation CRS, and Alpha Metallurgical Resources Inc. AMR.

United States Steel holds a Zacks Rank #1 (Strong Buy). X has outperformed the Zacks Consensus Estimate for the past four quarters, with an average earnings surprise of 54.8%. The company’s shares have soared by 59.1% in the last year.

With a Zacks Rank #2 (Buy), Carpenter Technology has exceeded the Zacks Consensus Estimate in three out of the last four quarters and matched it once, yielding an average earnings surprise of 12.2%. The company’s shares have surged by 30% in the past year.

The Zacks Consensus Estimate for AMR’s current-year earnings has witnessed a 69% upward revision over the last 60 days. Currently holding a Zacks Rank #1, AMR has delivered an average four-quarter earnings surprise of around 24.8%. AMR’s shares have appreciated by approximately 108% in a year.

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