Thursday, September 25, 2014 7:07:24 AM
By Andrew Noel Sep 24, 2014 9:22 AM ET
Click For bloomberg.com Link
BASF SE, the world’s largest chemical company, will reorganize its paper-chemical operations to improve efficiency.
The current Basel, Switzerland headquarters for the paper-coatings and additives operation will be closed and the division dissolved, to be largely absorbed into the Performance Products segment, the Ludwigshafen, Germany-based company said today. It expects the measures to result in 50 job cuts.
Chief Executive Officer Kurt Bock is working piecemeal through BASF’s underperforming businesses to improve profitability and the returns from acquisitions made years ago. The company will evaluate strategic options for a paper hydrous kaolin business, it said today.
“Integrating the paper chemicals business along existing value chains will allow BASF to optimally steer plant capacity and leverage the advantages of the BASF Verbund,” board member Michael Heinz, who oversees the Performance Products segment, said in the release.
BASF competes with Kemira Oyj of Finland in the market for additives and coatings used to treat and protect weather.
TRUTH
I've never claimed to have all the answers but feel i'm beginning to corner the market in questions worthy of solutions.
Recent BASFY News
- BASF Hauling More Product by Road as German Train Strike Starts -- OPIS • Dow Jones News • 01/24/2024 06:41:00 PM
- Trending: BASF Preliminary Figures Miss Expectations • Dow Jones News • 01/19/2024 03:24:00 PM
- BASF Sales, Earnings Miss Forecasts on Lower Margins, Write-Downs -- 2nd Update • Dow Jones News • 01/19/2024 09:23:00 AM
- BASF Sales, Earnings Miss Forecasts on Lower Margins, Write-Downs -- Update • Dow Jones News • 01/19/2024 07:32:00 AM
- BASF Sales, Earnings Miss Forecasts on Lower Margins, Write-Downs • Dow Jones News • 01/19/2024 07:02:00 AM
- Wintershall Dea Sale to Be Reviewed, German Econ Minister Says • Dow Jones News • 01/17/2024 06:24:00 PM
- BASF Restarts Naphtha-Fed Cracker After Maintenance -- OPIS • Dow Jones News • 01/10/2024 06:27:00 PM
- BASF, Stena Recycling Collaborate on EV Battery Recycling • Dow Jones News • 01/09/2024 12:17:00 PM
- Harbour Energy Buys Wintershall Dea Upstream Assets for $11.2 Billion -- Update • Dow Jones News • 12/21/2023 03:20:00 PM
- Harbour Energy Buys Wintershall Dea's Upstream Assets for $11.2 Billion • Dow Jones News • 12/21/2023 02:45:00 PM
- Russia Seizes Wintershall Dea, OMV Stakes in Western Siberia Energy Project • Dow Jones News • 12/20/2023 01:19:00 PM
- BASF Names Markus Kamieth to Succeed Martin Brudermueller as CEO -- 2nd Update • Dow Jones News • 12/20/2023 11:42:00 AM
- BASF Names Markus Kamieth to Succeed Martin Brudermueller as CEO -- Update • Dow Jones News • 12/20/2023 11:10:00 AM
- BASF CEO Martin Brudermueller to Step Down • Dow Jones News • 12/20/2023 10:29:00 AM
- BASF to Give More Autonomy to Battery Materials, Agricultural Units • Dow Jones News • 12/07/2023 01:36:00 PM
- BASF, Vattenfall to Partner on Nordlicht German Offshore Wind Farms • Dow Jones News • 12/05/2023 10:00:00 AM
- Adnoc Weighs Acquisition of Wintershall, Bloomberg Reports • Dow Jones News • 11/24/2023 08:17:00 AM
- BASF to Reduce Investment Spending After Swinging to a Net Loss -- Update • Dow Jones News • 10/31/2023 09:25:00 AM
- BASF Swings to Net Loss After Sales Hurt by Lower Prices, Volumes • Dow Jones News • 10/31/2023 06:37:00 AM
- Wintershall Dea Swings to Net Loss on Weak Oil, Gas Prices • Dow Jones News • 10/30/2023 04:03:00 PM
- Toxic Gas Leaks From BASF Ludwigshafen Complex After Operational Disruption -- OPIS • Dow Jones News • 10/26/2023 04:17:00 PM
- BASF Boosts Ethylene Oxide Output as Unit Comes Online -- OPIS • Dow Jones News • 10/16/2023 06:05:00 PM
- BASF Plans End-Oct. Restart of German Styrene Unit After Turnaround: Sources -- OPIS • Dow Jones News • 10/12/2023 02:13:00 PM
- BASF's Biomass Balanced Plastic Additives Cut Carbon Footprint by 60% -- OPIS • Dow Jones News • 09/19/2023 05:48:00 PM
- Shell, BASF POSM Dutch Plant to Restart by Mid-September -- OPIS • Dow Jones News • 08/25/2023 07:49:00 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM