BASF restructures
In an attempt to provide products faster to market, be closer to customers, and offer increased efficiency, German chemical company BASF AG has announced a restructuring of its business segments.
With effect from January 1, the company will operate its business under the six segments of Chemicals, Plastics, Functional Solutions, Performance Products, Agricultural Solutions and Oil & Gas.
From the beginning of next year, the leather industry will be served by the company’s Performance Chemicals division, headed by Hans Reiners, which will also manufacture products for the oil and refinery industries, coatings and plastics and the textile industry. It will have around 5,000 employees worldwide.
Commenting on the new structure chairman Jürgen Hambrecht said, “This will enable us to bring our products and system solutions faster to market and will create additional potential for value-adding growth.”
