BASF SE, the world’s largest chemical company, plans to cut 260 jobs globally at its nutrition and health division and accelerate the introduction of new products to lift results.
A plant producing low-grade omega-3 in Norway will be sold as greater emphasis is placed on supplying higher-purity fatty acids suitable for the pharmaceutical industry and top-end supplements, the Ludwigshafen, Germany-based company said in a statement today. The job cuts will affect marketing, sales and administration, it added.
“Through these measures we will adapt our business to better meet market and customer needs,” said Saori Dubourg, president of BASF’s Nutrition & Health division. “At the same time, we will improve our profitability.”
BASF said it’s taking a deeper look at its performance-products segment with a view to taking further action. Chief Executive Officer Kurt Bock earlier this year signaled urgent restructuring is needed to lower capacity, take out costs and improve results in areas such as chemicals and additives for the leather, paper, textile and plastics industries.