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April 2, 1996

BASF SALES DROP 14.5%

By CBR Staff Writer

Sales at BASF AG’s two information systems companies shrunk last year while pre-tax profits increased (CI No 2,881). Comparex Informationssysteme GmbH fell 14.5% to the equivalent of $561m in 1995 as pre-tax profits rose 39% to $41.2m. Over at BASF Magnetics GmbH, which does audio and video magnetic data storage, sales plunged 78% to $195.4m but profits rose 37% to $4.0m. The company said earnings at BASF Magnetics remained unsatisfactory and the sales dive was due mainly to price cuts and revaluation of the Deustchmark, while sales and earnings at Comparex fell just short of our expectations but the Hitachi Data Systems Inc IBMulator reseller said it regained its good market position during the year. It wants a partner for Comparex, and nothing is excluded for magnetics if it does not turn around.

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