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BASF is restructuring its construction chemicals business in Europe because of challenging market conditions, particularly in Southern Europe and the U.K. It plans to lay off 400 of the business’s 7,000 staff in roles including sales and marketing. BASF says it will cut manufacturing capacity in the most challenging markets and introduce measures to enhance efficiency and customer focus. Additionally, the firm plans to divest Meyco, its Swiss manufacturer of concrete-spraying machines. BASF’s construction chemicals business generated sales of about $2.8 billion last year.
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