MOSCOW (MRC) -- BASF will form a global business unit (GBU) combining all of its pigments activities effective January 2016. In the second half of 2016, BASF intends to carve out its pigments business and establish separate legal entities, reported the producer on its site.
With sales of about EUR1 billion in 2014 and 2,500 employees globally, BASF holds a leading position in the pigments market, offering the broadest portfolio of products and technology. The new GBU will likely be headquartered in the Ludwigshafen area. All employees who are dedicated to the pigments business will be transferred to the new GBU.
"We have achieved and maintained a leading position in the pigments market through acquisitions and a series of successful restructuring measures. The new global business unit will fully concentrate on the pigments business and thus be even more focused on supporting the needs of our pigments customers," said Dr. Markus Kramer, President of BASF’s Dispersions & Pigments division.
Dr. Alexander Haunschild, Senior Vice President of the regional business unit Pigments and Resins Europe and appointed head of the GBU, stated: "By creating an organization fully dedicated to pigments, we will adapt better to the challenges in the pigments industry. Our customers will benefit from tailored services and higher responsiveness."
BASF’s pigments business serves a variety of industries including paints & coatings, printing & packaging and plastics. The portfolio comprises of color pigments such as phthalocyanines, high performance pigments, azo pigments, effect pigments, inorganic pigments, dyes and pigment preparations.
As MRC wrote before, BASF will expand its capacity for the production of Paliocrom effect pigments by more than 20% by 2017 in Ludwigshafen, Germany. The investment will enable the company to accommodate for the growing demand of its aluminum-based effect pigments in the automotive coatings sector. With an investment of approximately EUR10 million, BASF aims to strengthen its position in this fast-growing market.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.
MRC