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BASF To Create Hong Kong-based Global HQ For Dispersions & Pigments Division |
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2011-11-18
Germany-based BASF AG has announced plans to relocate its Dispersions & Pigments division headquarters (HQ) in Ludwigshafen to a new location in Hong Kong. The division produces pigments, resins dispersions and additives — such as photoinitiators, light stabilizers and formulation additives — used in the coatings and paint, adhesive, printing and packaging industries; and realized sales of 3.2 billion euros in 2010.
The division head along with approximately 50 global personnel will transition to Hong Kong over the year beginning January 2012. Employees not offered a position in Hong Kong will be offered positions elsewhere with BASF. Regional business and production units based in Europe and Asia are not affected by this change.
"Asia already is the largest market for our division today," said Dr. Markus Kramer, president, Dispersions & Pigments, BASF. "We want to further participate in the dynamic growth in that region and beyond. To this end, we want to change the perspective from which we view our customer industries. By forming a global team at an international location, we will also further increase attractiveness of BASF as a global employer."
Source:textileworld
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