BASF to make R&D investments but cut jobs

- Last updated on GMT

Related tags: Investment

In a bitter-sweet move BASF will look to strengthen its competitiveness within its Performance Products segment with a multi-million dollar investment in R&D that will also see approximately 650 positions reduced globally by 2017.

As part of its long-term pigment strategy, BASF will enhance customer focus and continue to design differentiated products in high-value applications, and optimize the global production network.

"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 & Pigments division.

BASF will optimize its global production network for pigments, including the closure of the Paisley plant in Scotland, the restructuring of the Huningue plant in France, and examining the strategic options for the site in Maastricht, the Netherlands.

The planned investments in the production network will further strengthen the production footprint in Asia Pacific, including 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 the BASF pigments plant in Ulsan, Korea.

Related topics: Business & Financial

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