Aims to strengthen profitability of its Performance Products segment
BASF is to cut 260 jobs within its Nutrition & Health division by 2015 in a bid to improve the competitiveness of its Performance Products segment. The majority of the losses will be positions in production, marketing and administration.
The German chemical giant's Nutrition & Health division bundles products and solutions for human and animal nutrition, the flavour and fragrance industry, as well as the pharmaceutical industry.
The company said it would adjust its product portfolio in order to better meet changing consumer needs and regional demands.
In Asia, BASF is building a citral plant with its partner Petronas to meet the growing demand of customers in the flavour and fragrance industry in the region. The first plants of the complex are expected to come on stream in 2016.
BASF will also focus its production in the growing omega-3 fatty acids market on the highly concentrated omega-3 fatty acids segment and plans to sell the Norwegian Brattvåg site. The company produces low concentrated omega-3 fatty acids at this plant.
The company said marketing, sales and administration would be 'better adjusted to regional market dynamics'. A global team responsible for marketing and innovation will in future support the development of customer-oriented products and solutions as well as faster market launches of products. BASF aims to accelerate the innovation cycle of products for its customers through partnerships.
'Through these measures we will adapt our business to better meet market and customer needs. At the same time, we will improve our profitability,' said Saori Dubourg, President of BASF’s Nutrition & Health division.
BASF said it would continue to investigate further ways to strengthen the competitiveness of its Performance Products segment.