BASF is combining its Water Solutions and Paper Chemicals businesses to form a new Paper & Water global business unit. The company says that merging these two businesses will enable efficiency gains and create additional market opportunities.
A new Oilfield & Mining Solutions global business unit will bring together the oilfield and mining businesses.
Both global business units will be headquartered in Ludwigshafen, Germany.
The changes will take effect from 1 January 2016. The company expects that the realignment will reduce employee numbers by about 120 worldwide until the end of 2016.
“The further development of our organisation will strengthen customer focus. The stepwise expansion of our polymer production network and investments in bio-acrylamide raw materials as well as the launch of innovative products will accelerate profitable growth,” said Prof Dr Christian Fischer, president of BASF’s Performance Chemicals division.