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BASF/Wintershall and Gazprom have already been cooperating successfully for a quarter of a century: The two companies laid the foundations for their cooperation in autumn 1990 with a long-term agreement to market Russian natural gas in Germany.

n a weaker than expected market environment, BASF sales in the third quarter of 2015 were €17.4 billion, 5% below the level of the previous third quarter. EBITDA increased by €358 million to €2.9 billion, mainly due to higher depreciation. In contrast, income from operations (EBIT) before special items declined by €171 million to €1.6 billion. In the Chemicals segment, EBIT before special items rose slightly, while it increased sharply in the Functional Materials & Solutions segment. In the remaining segments, earnings declined significantly

BASF has sold its global photoinitiator business to IGM Resins B.V., Netherlands, a global producer and supplier of radiation-curable material. High performance photoinitiators dedicated to specific needs of electronics customers are not part of the divestment, as the electronics industry is one of BASF's strategic focus areas.