A report in the Financial Times Deutschland on July 30 said BASF was considering the acquisition of the US based W.R. Grace. The US based specialty chemical company, Rockwood, and the German specialty chemical company Cognis are also said to be possible targets.

BASF acquired catalyst maker Engelhard for $4.8 billion in June 2006, and its CFO announced at the interview in 2007 that it was prepared to takeout a new loan of 10 billion euros for new acquisitions.

A BASF spokesman said that the company would not comment on individual newspaper reports, but he said BASF continues to look at potential investments as part of its strategy.

BASF Chief Executive Jurgen Hambrecht said in July that consolidation in the chemical sector will accelerate, driven by cost pressures, lower asset prices and changes in investment climates.

On July 10, the US based Dow Chemical (H.O.: Michigan, President and CEO: Mr. Andrew.N. Liveris) announced its acquisition of Rohm and Haas(R&H) in the same trade.