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BASF no longer plans to sell its leather and textile chemicals business

April 08/2011

(ICIS) -- BASF no longer plans to sell its leather and textile chemicals business and will instead focus on expanding it in the Asia-Pacific region, the company said on Thursday. BASF is not shutting down or downsizing [the leather and textile chemicals business]. The leather and textile market has been very difficult over the past 10 years, BASF spokeswoman Birgit Wesche said. BASF had considered selling the business after restructuring and efficiency programmes failed.


There is a need to move with the market and optimise the business, which, for example, will mean that we will have a focus on Asia-Pacific now even more than in the past, Wesche added.


This is a signal that we will continue to do business in Asia-Pacific, operating the business from Singapore.


BASF said the leather and textiles chemicals business will be oriented more toward the Asia-Pacific region, as many of the company's customers have moved there and opened facilities.


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