World largest chemical company
Billion deals: BASF sells business with building coatings
The chemical group wants to go back to the road to success with a group of consumption. A billion -dollar business sale is only part of it. Further steps are to follow.
The Chemical Group BASF is making its way to convert. As the DAX company announced, the US color and coating group Sherwin-Williams takes over Brazilian business with paints for BASF buildings for $ 1.15 billion (EUR 1.1 billion).
BASF’s business with a sales of around $ 525 million in 2024 is the only significant BASF business with end consumers. The sale of the area is only one step in the group’s renovation. “In the second quarter of 2025, BASF intends to go to the market to examine further strategic options for their remaining coating activities,” said the group. These included the vehicle series and car repair paints as well as surface treatments.
BASF wants to be out of the crisis with a far -reaching conversion
BASF boss Markus Kamieth announced a far-reaching renovation in September to keep the world’s largest chemical company out of the crisis. Business areas are to be partially sold and the agricultural business should go to the stock exchange. In addition, the dividend for shareholders has been shortened for the first time since 2010, and there are further closures of chemical systems in the Ludwigshafen stem. With the latest billion dollar savings program, another, not yet quantified job cuts are imminent.
Talks on the protection of the employees
The group is currently negotiating with the works council about a waiver of operational dismissals and modernization of the Ludwigshafen location. The talks about a new location agreement were started, said a BASF spokeswoman for the German Press Agency. An agreement at BASF is still valid until the end of the year, which excludes operational terminations in Ludwigshafen.
dpa
Source: Stern
