BASF (BASFY) & OQEMA Partner on Amines in the UK & Ireland

BASF SE BASFY has bolstered its partnership with OQEMA, one of Europe's leading chemical distributors, for BASF's standard amines portfolio, excluding ethanolamines in the U.K. and Ireland, effective Jan 1, 2024.

The companies, which have had a successful partnership in Germany and Eastern Europe for more than two decades, will now collaborate in the U.K., combining OQEMA's extensive distribution and sales network and in-depth local market knowledge with BASF's ability to deliver high-quality, competitively priced products on a scale.

This new partnership provides OQEMA with the scope for collaborative expansion, allowing the company to offer its clients an expanded product line in amines and boost the company's market position. BASF's partnership with OQEMA helps it handle supply chain difficulties and customer service while focusing on its core expertise.

BASF's Intermediates division develops, manufactures and markets a diverse array of more than 600 intermediates worldwide. The division's main product categories are amines, diols, polyalcohols, acids and specialty. These intermediates serve as precursors for coatings, polymers, medicines, textiles, detergents and crop protection products.

BASF's innovative intermediates contribute to improved final product qualities as well as production process efficiency. The Intermediates division, which is ISO 9001 accredited, runs plants in Europe, Asia and North America.

Shares of BASF have gained 4.9% over the past six months against a 9.2% decline of its industry.

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Zacks Rank & Key Picks

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

Better-ranked stocks in the basic materials space include United States Steel Corporation X, Carpenter Technology Corporation CRS and Alpha Metallurgical Resources Inc. AMR.

United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 59.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 30% in the past year.

The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1.  AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares are up around 108% in a year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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