22.04.2025 • News

BASF Divests Two Joint Ventures in China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.

The transaction was completed effective April 21, 2025, following approval by the relevant authorities. Both parties have agreed not to disclose financial details of the transaction.

Verde Chemical Singapore Pte Ltd, a company registered in Singapore, is majority controlled by Verde Ventures SGP, also a Singapore-registered company. The company is currently establishing an intellectual property and license center in Singapore to commercialize cutting-edge technologies and, with the support of minority shareholder GSS Energy Limited, leverage such technologies to support manufacturing in Southeast Asia.

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VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.