Global chemicals group BASF, which supplies products to the wood coatings sector, has more than doubled its third-quarter net profits to €808m.
The Germany-based company posted €10.4bn sales for the period, an 11% increase on a year ago.
Its performance products division recorded sales of €2.1bn, up 2%, with profits remaining the same at €216m. The coatings sub-division experienced a 9% sales growth to €561m but profits declined due to further hikes in raw material costs.
BASF reported strong sales of adhesive raw materials and dispersions for decorative paints, helped by price increases.
The company supplies pigments for paints and MDF, resins for wood coatings, dispersions for decorative paints, raw materials for parquet floor adhesives, timber preservatives and chemicals for wood glues.
