BASF Eyes Major Cost Savings from Cognis Integration

BASF says it aims to generate €275 million ($388.5 million) of additional Ebit as a result of its integration plans for Cognis, which BASF acquired for €3.1 billion in late 2010. This corresponds to 10.6% of Cognis's 2009 net sales and consists of growth synergy targets that are expected to generate additional Ebit of €135 million by 2015 and cost synergies of about €140 million, which will be achieved by the end of 2013. The plans, announced today, include a reduction of 680 jobs due to overlaps in functional and administrative units as well...

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