BASF SE’s BASFY Coatings division’s surface treatment global business unit, operating as Chemetall, has achieved a major advancement in its sustainability efforts by shifting its Langelsheim production site in Germany to renewable electricity. This development marks a crucial step toward Chemetall’s target of sourcing 80% of its energy from renewables at all locations by 2025. The renewable electricity, supplied by BASF Renewable Energy, comes from a combination of wind and solar power and is expected to cut CO2 emissions by around 620 tons in 2025.
Chemetall has converted its Langelsheim facility in Germany to 100% renewable energy, following the implementation of advanced photovoltaic systems in Boksburg, South Africa, Türkiye, and Querétaro, Mexico, as well as the transition of its production site in Blackman Township, Jackson County, USA. Chemetall secures around 2,000 MWh of electricity each year from various renewable sources, including solar and wind, via Virtual Power Purchase Agreements (vPPAs) with BASF Renewable Energy. This leads to a significant reduction in CO2 emissions and marks another important step toward Chemetall's environmental goals.
Transitioning the Langelsheim site to renewable electricity is a key step in cutting emissions and reducing its overall climate footprint. Chemetall remains dedicated to advancing sustainability through innovative surface treatment technologies that conserve resources and offer safer, future-focused chemical solutions, ultimately helping to protect ecosystems and preserve natural resources for generations to come. By enabling its customers to enhance their environmental performance, Chemetall also contributes to the broader sustainability goals of both BASF and BASF Coatings.
Shares of BASFY have lost 6.3% over the past year against a 26.8% decline of its industry.
Image Source: Zacks Investment ResearchBASFY’s Rank & Key Picks
BASFY currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Idaho Strategic Resources, Inc. IDR and Hawkins, Inc. HWKN
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 112% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Idaho Strategic Resources’ current-year earnings is pegged at 21 cents. IDR, carrying a Zacks Rank #2 (Buy), surpassed the Zacks Consensus Estimate in two of the trailing four quarters, while missing twice, with an average earnings surprise of 21.7%. The company's shares have rallied 28% in the past year.
Hawkins, which currently carries a Zacks Rank #1, beat the consensus estimate in one of the trailing four quarters, while missing thrice. In this time frame, it has delivered an earnings surprise of roughly 6.1%, on average. The company's shares have rallied 57.3% in the past year.
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BASF SE (BASFY): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Hawkins, Inc. (HWKN): Free Stock Analysis Report Idaho Strategic Resources, Inc. (IDR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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