LUDWIGSHAFEN, GERMANY (Nov. 17, 12:20 p.m. ET) — BASF SE plans to establish the global headquarters of its dispersions and pigments division in Hong Kong. As of Jan. 1, the division head and about 50 global positions, currently located in Ludwigshafen and Basel, will transition to Hong Kong.
“Asia is already the largest market for our division today. We want to further participate in the dynamic growth in that region and beyond,” said Markus Kramer, president of BASF's dispersions and pigments division.
“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.”
All employees affected by the relocation who do not transfer to Hong Kong will be offered other positions within BASF. The regional business and production units located in Europe and Asia are not affected by the move.
The portfolio of the dispersions and pigments division includes pigments, resins, dispersions and additives such as photoinitiators, light stabilizers and formulation additives.
The division posted 2010 sales of 3.2 billion euros.