BASF to establish new global pigment unit
Germany-based chemical maker BASF SE has announced plans to form a global business unit next year that combines all of its pigments activities.
The company’s pigment activities generated sales of about US$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, Germany area, BASF said, and all employees who are dedicated to the pigments business will be transferred to the new unit.