BASF to Reorganize Businesses, Cut Jobs
As part of a reorganization to promote competitiveness of its Performance Chemicals division, BASF will combine its Water Solutions and Paper Chemicals units into a new global business unit Paper & Water with effect from Jan. 1, 2016. At the same time, it will establish a separate global unit for Oilfield & Mining Solutions.
The realignment will result in the elimination of 120 jobs worldwide up to the end of 2016. Merging the activities aimed at the water and paper markets will enable efficiency gains and create additional opportunities, the Ludwigshafen group said. In the businesses supplying the oilfield and mining sector, dedicated industry teams will focus on developing and commercializing innovative and sustainable products to support the predominantly global customers in optimizing their yields. Both global business units will be headquartered at Ludwigshafen.
“The further development of our organization will strengthen customer focus. The stepwise expansion of our polymer production network and investments in bio-acrylamide raw materials as well as the launch of innovative products will accelerate profitable growth,” said Christian Fischer, president of the Performance Chemicals division.
