BASF gets fighting fit for the future

Published: 27-Aug-2001


As part of its 'Fit for the Future' programme, transnational chemical company BASF has put in place 38 regional and 10 global business units to increase customer focus, strengthen its market presence and foster entrepreneurship within the company. BASF expects the changes to bring annual cost advantages of e400 million.

Dr Juergen Strube, BASF chairman, said, 'We want to increase the value of the company through growth and innovation, and to do this we need optimal internal structures and process.'

A further feature of the restructuring is the eight 'Centres of Competence' that have been formed from the company's existing functional and central units. The centres will have expertise in the fields of research, engineering, responsible care, logistics, IT, technical procurement and raw materials purchasing.

However, BASF also issued a warning that the company is not expecting an increase in income from operations in the second quarter of this year, due to high raw material prices, weaker signs of growth in Europe and no sign of an economic upturn in the US.

'Nevertheless,' said Dr Strube, 'we remain committed to our ambitious, medium-term goal and want to increase our income from operations [before special items] by an average of 10% for the years 2000-2002.'

  • BASF has acquired a styrene monomer plant from SK Evertec in South Korea to increase its production capacity in Asia, and has finally been given approval by the UK government for its takeover of the vitamins business of Takeda Chemical Industries, Osaka, Japan. The move enhances BASF's position in the global vitamins market.
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