BASF: 650 jobs cut amid pigment plant closures
In a bid to improve competitiveness within its performance products segment, Germany-based chemicals company BASF is to cut around 650 jobs globally by 2017.
These measures include the closure of its Paisley plant in Scotland and the restructuring of its Huningue plant in France. BASF is also examining strategic options for its site in Maastricht, the Netherlands.
At the same time, the company will invest €250 million ($345 million) in its production network and in research and development over the next four years.
These investments will strengthen its production capacity in Asia Pacific, the company’s fastest-growing market. This includes the start-up and expansion of a plant for high-performance pigments at BASF’s wholly owned production site in Nanjing, China, and the expansion of its pigments plant in Ulsan, Korea.
“The measures we are undertaking will make us more responsive to market and customer needs. We also continue to significantly invest in innovation as the leading pigment supplier,” said Dr Markus Kramer, president of the dispersions and pigments division.
“The future global production network will enable us to reliably and efficiently supply our partners from a competitive base.”
