Sector News

BASF cuts 50 job, sells unit as part of paper chemicals overhaul

September 24, 2014
Chemical Value Chain
(Reuters) – BASF, the world’s largest chemicals maker by sales, said on Wednesday it would cut an additional 50 jobs and possibly put its paper hydrous kaolin business on the block as part of an ongoing overhaul at its paper chemicals business.
 
BASF said further measures to improve competitiveness at its Performance Products division, which includes paper chemicals, were possible in the future.
 
BASF said in January it would cut 250 jobs as part of restructuring measures at its paper chemicals and latex businesses.
 
The following month, it agreed to sell its business with AKD emulsions for the paper industry to Finnish peer Kemira . (Reporting by Ludwig Burger; Editing by Maria Sheahan)

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