Ludwigshafen, Germany - BASF's European business unit for plastic additives and the global units fortechnology management, as well as the restructured pigment business, will be headquartered in Basel, Switzerland, along with BASF Coatings & Starch Europe and BASF Wet End Chemicals, effective 1 July 2009, the company said recently.
The company also said its newly established Paper Chemicals operating division will be located at the former headquarters of Ciba Holding AG in Basel. Fred Baumgartner was appointed head of the Paper Chemicals division effective April 2009. This division combines products and solutions to improve the production and properties of paper.
As planned, BASF intends to merge Ciba Holding AG with BASF Specialty Chemicals Holding GmbH, Basel. The remaining minority shareholders in Ciba will then receive a cash compensation of CHF 50 per share, the company said. (RD)