Issue Date: February 9, 2009
... As It Eyes Sale Of Leather Business
BASF is considering the sale of its $500 million-per-year leather and textile chemicals business in conjunction with its acquisition of Ciba, expected to close later this year. A series of restructuring and efficiency programs in the business have not been sufficient to ensure long-term profitability in increasingly competitive markets, according to Hans W. Reiners, head of performance chemicals. BASF says it is also studying the option of a joint venture for the business, which employs 1,300 people in Germany, Spain, Turkey, Brazil, and China.
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