LAMPERTHEIM, Germany—BASF, a company specializing in chemicals, plastics, performance products and crop protection products to oil and gas, announced it is implementing a series of measures in the Nutrition & Health division in order to strengthen the competitiveness of its Performance Products segment.
BASF will adjust its product portfolio in order to better meet changing consumer needs and region demand. For example, in Asia, BASF is building a citral plant with its partner, Petronas, to meet the demand of customers in the flavor and fragrance industry. The first plants are expected in 2016. BASF also plans to focus production in the omega-3 market and the demand for highly concentrated omega-3 fatty acids. The company plans to sell the Norwegian Brattvåg site, as it produces low-concentrated omega-3 fatty acids. Marketing, sales and administration will also be adjusted to regional market dynamics. Due to the planned measures, about 260 positions in production, marketing and administration will be reduced globally by the end of 2015.
“We aim to strengthen our position in the growing nutrition and health market. Through these measures we will adapt our business to better meet market and customer needs. At the same time, we will improve our profitability," said Saori Dubourg, president of BASF’s Nutrition & Health division.