BASF reduces production worldwide

Article Type: Industrial news From: Anti-Corrosion Methods and Materials, Volume 56, Issue 2

BASF is taking measures to avoid the creation of overcapacities as a result of a massive decline in demand. The company is temporarily shutting down around 80 plants worldwide. In addition, BASF is reducing production at approximately 100 plants. “We already drew attention to the difficult economic situation at the end of October. Since then, customer demand in key markets has declined significantly,” said Dr Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE. “In particular, customers in the automotive industry have canceled orders at short notice.” Worldwide,approximately 20,000 employees will be affected by the production cuts. The shutdowns will be coordinated throughout BASF’s global production Verbund and will involve all six Verbund sites in Europe, Asia and North America, as well as other sites.

More information is available at: www.basf.com