29 July 2010 15:38 [Source: ICIS news]
LONDON (ICIS)--BASF will split its care chemicals division into two separate units to prepare for the integration of Cognis, the German petrochemical major said on Thursday.
Effective 1 August, BASF will create a new nutrition and health division from the current care chemicals division, incorporating the nutrition ingredients and aroma chemicals businesses, as well as pharmaceutical ingredients and services, BASF's board of executive directors said.
The new care chemicals division would be formed from BASF’s personal care, hygiene, home care and industrial formulators businesses, BASF added.
Walter Dissinger, currently senior vice president of BASF’s crop protection business in ?xml:namespace>
Both divisions would be part of BASF's performance products segment, the company added.
BASF reached an agreement to acquire specialty chemicals producer Cognis in June for €3.1bn ($4bn).
On Thursday, BASF reported second-quarter net profits of €1.18bn, up significantly from €343m in the same period last year, on much higher sales of chemicals, plastics and performance products.
($1 = €0.77)
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