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The company, with sales of 87 billion euros (USD 94 billion) last year, will create legally separate entities for the three units, trade union IGBCE said in a statement on Thursday, which was confirmed by a company spokesperson. Over the last two years, BASF has also made its catalytic converter business, which relies on combustion-engine powered cars, a standalone subsidiary ready for "strategic options". ....
BASF plans to turn its agriculture, battery materials and coatings businesses into autonomous units to try to boost earnings, a major revamp for the German chemicals giant that has traditionally been highly integrated. ....
BASF gives agriculture, battery units more autonomy but no plan to split streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
By Pierre Bertrand and Helena Smolak BASF intends to adapt the operating model of its battery materials and agricultural units, a move that faces opposition. ....