09 July 2001 00:00 [Source: ICB]
German chemicals giant, BASF, has completed the reorganisation of the group in the wake of profits warnings and a weak economy.
Its new motto 'fit for the future' calls for core changes. A new organisation will comprise ten global business units, with seven based on product lines namely, styrene, fibres, catalysts, inorganic specialities and electronic chemicals, ethylene oxide/ glycol, acrylic monomer, superabsorbents, and three on customer branches.
There will be 38 regional business units, 18 of these will be in Europe, nine in Asia and 11 in the Nafta region.
The company has already announced annual cost savings of E400m ($342m) by reorganising the company.
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