To exploit that growth, BASF has increased pipelines to nearly 2,000 kilometers in Europe, and uses Western Europe's largest natural gas storage facility (BASF, 47). By increasing their pipelines and storage capacity, BASF plans to use this market for even higher future growth. There can be no question that BASF uses its non-cyclical products as a mainstay of growth, as can be seen through a comparison of the divisions' revenue in 2002. In total, oil and gas sales in 2002 were higher than in any other BASF division (BASF, 46). In comparison, the sales of agricultural products, typically cyclical in nature, were the lowest in the same year (BASF, 43). Additionally, in 2000, BASF announced their intention to increase their market share of non-cyclical products, which they have consistently done (Milmo, 85). By focusing on non-cyclical portions of the company's markets, BASF is able to sustain consistent growth, even in periods of economic fluctuation,...

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Valuation of the Specialty Chemistry…