BASF plans to trim Asia operations
Sun 20, 2016
BASF SE is prepared to further cut operations in Asia, with a goal of eliminating 250 million euros (US$280.66 million) in costs, as competition with local companies and a slowdown in demand hurt profits, board member Sanjeev Gandhi said.
“We are restructuring and downsizing in mature Asia, where there is a need,” said Gandhi, who heads BASF operations in Asia.
“It’s an ongoing, case-by-case activity. Whatever makes sense we keep; whatever isn’t competitive we divest or shut down,” he said.