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)

comments closed

Related News

May 21, 2022

Sika opens new manufacturing plant in Bolivia 

Chemical Value Chain

Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.

May 21, 2022

Chevron increases renewable fuel market share with REG acquisition

Chemical Value Chain

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

May 21, 2022

Lotte Chemical to invest $8 bn on hydrogen energy, battery materials by 2030

Chemical Value Chain

Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.