Unlike Bayer, BASF’s agro-related impairment was not triggered by a write-down on the purchase price, only on the adoption of the production network. We believe the individual share for Surface Technologies, due to former Chemetall, and Chemicals as well Materials (no split provided) will be higher. We take the impairment as a kind of tidying up as the company ‘sells’ as a consequence of the pandemic’s weaker expectation in automotive and aerospace.
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Some acquisitions do not fly
Unlike Bayer, BASF’s agro-related impairment was not triggered by a write-down on the purchase price, only on the adoption of the production network. We believe the individual share for Surface Technologies, due to former Chemetall, and Chemicals as well Materials (no split provided) will be higher. We take the impairment as a kind of tidying up as the company ‘sells’ as a consequence of the pandemic’s weaker expectation in automotive and aerospace.