By Natascha Divac
FRANKFURT--Germany's BASF SE (BAS.XE) said Wednesday it plans to
shift its pigments activities into a new independent legal
entity.
The company's pigment activities generated sales of about EUR1
billion ($1.08 billion) in 2014 with 2,500 employees worldwide.
In the second half of 2016, BASF intends to carve out its
pigments business and establish separate legal entities, the
company said.
"By creating an organization fully dedicated to pigments, we
will adapt better to the challenges in the pigments industry," said
Alexander Haunschild, senior vice president of the regional
business unit Pigments and Resins Europe and appointed head of the
new global business unit.
BASF's pigments business serves a variety of industries
including paints & coatings, printing & packaging and
plastics.
The new business unit will likely be headquartered in the
Ludwigshafen area and all employees who are dedicated to the
pigments business will be transferred to the new unit, BASF
said.
Write to Natascha Divac at natascha.divac@wsj.com
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