BASF reshuffles portfolio, cuts segments and divisions

BASF has announced changes to its organizational structure, bundling product groups with the same business model. BASF will reduce its number of business segments from six, to five and its number of divisions from 15, to 14, effective on 1 January 2013. The company is creating a new division, performance materials, within the functional solutions segment, and this segment will be renamed functional materials solutions. The performance materials division will bundle BASF’s innovative downstream plastics from the current performance polymers and polyurethanes...

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