Economic Crisis: Germany's chemicals giant BASF announces the temporary shutdown of 80 factories - je 19.11.2008 16

The slowdown in the auto industry is also affecting companies that provide parts and other supplies for carmakers. German chemical giant BASF shocked the markets with news it will temporarily shut down dozens of factories worldwide, and cut production at other plants. BASF said a massive decline in demand for its products over the past several weeks was behind the move.