BASF to move dispersions, pigments headquarters to Hong Kong
BASF plans to move the global headquarters of its dispersions and pigments division to Hong Kong, the company said on Monday.
As of January 1, 2012, the division head and about 50 global positions, currently located in Ludwigshafen and Basel, will transition to Hong Kong. Transfer of positions will be realized over a period of about 12 months, according to the company.
“Asia is already the largest market for our division today,” said Dr. Markus Kramer, president of BASF’s dispersions and pigments division.
“We want to further participate in the dynamic growth in that region and beyond,” he added. “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 transition and who will not move to Hong Kong will be offered other positions within BASF, the company said.
The regional business and production units located in Europe and Asia are not affected by this move.
The portfolio of the dispersions and pigments division includes pigments, resins, dispersions and additives such as photoinitiators, light stabilizers and formulation additives.
Main customer industries are the coatings and paints industry, as well as the adhesive, printing and packaging industries. The division posted sales of €3.2 billion in 2010 .
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