BASF to Cut 260 Jobs in Nutrition & Health
BASF plans to eliminate 260 jobs in its Nutrition & Health division up to 2015 to improve the profitability of its Performance Products business segment. At the same time, the German group said it will continue to analyze "further measures" to strengthen competitiveness.
The division bundles products and solutions for human and animal nutrition, flavors and fragrances industry as well as pharmaceuticals. In the Performance Products segment as a whole, EBITDA decreased by 5% in 2013 to €1.99 billion, with sales down 1% to €15.5 billion.
In future, marketing, sales and administration in the Nutrition & Health will be "better adjusted to regional market dynamics," BASF said. A global team responsible for marketing and innovation will support the development of customer-oriented products and solutions as well as faster market launches of new products.
Strategic partnerships in regional markets appear to be the chosen path for the world's largest chemical producer. In Asia, BASF is building a citral plant with Malaysian chemical giant Petronas to meet the growing demand of customers in the flavor and fragrance industry in the region. The first plants are expected on stream in 2016.
In future, the group said it will focus its production in the growing market of omega-3 fatty acids on the "attractive market segment" for highly concentrated omega-3 fatty acids. It plans to sell the Brattvåg site in Norway, where it produces low concentrated omega-3 fatty acids.
