Chemical giant BASF has announced the closure of three plants at its headquarters and will close more energy-intensive plants in the future
- Categories:Industry News
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- Time of issue:2024-08-30 17:02
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(Summary description)At the beginning of 2023, BASF launched a group-wide savings plan. After that, 2,600 jobs will be cut globally. A year later, the group announced further tightening.
In July 2024, the world's largest chemical group announced the closure of two plants outside its integrated site in Ludwigshafen, Germany, where it is headquartered. For economic reasons, BASF plans to stop production of the plant protection agent glyphosate at its Knapsack and Frankfurt sites in Germany by the end of 2024 and subsequently close both sites. Starting in 2025, 300 jobs will be phased out.
According to the German "Handelsblatt" news on August 29, BASF chemical company will close its headquarters in Ludwigshafen, Germany, three other plants, the three plants involved in the production of a variety of intermediate products for plastics, pesticides and adhesives. The three facilities currently affected are set to close next year, with the announced closures involving the plastic intermediate product adipic acid.
In 2023, BASF had already significantly reduced capacity in Ludwigshafen, but now it is shutting down the plant. This suggests that the production of two other chemicals with adipic acid as the primary product no longer makes economic sense.
Basf has promised that there will be no layoffs for operational reasons at its Dwigshafen plant until the end of 2025.
This means that the approximately 180 employees affected by the current round of operations will not be laid off, but will be relocated to other locations.
Basf, considered the world's largest chemical complex, has been losing money for years. The losses were mainly due to the economic slowdown, bottoming chemical prices and a sharp rise in energy costs. The move is part of a restructuring of BASF's headquarters aimed at improving profitability across the entire production chain.
The closure of the BASF plant is not an isolated phenomenon, but a microcosm of the problems currently facing the German and European chemical industry. If demand is high and prices high, then BASF may also maintain energy-intensive production. However, this is not the case at present, and there will not be high demand and high prices for energy-intensive products in the foreseeable future.
As a result, further plant closures are expected in high-cost regions such as Germany and Europe, as Handelsblatt reported this week.
Chemical giant BASF has announced the closure of three plants at its headquarters and will close more energy-intensive plants in the future
(Summary description)At the beginning of 2023, BASF launched a group-wide savings plan. After that, 2,600 jobs will be cut globally. A year later, the group announced further tightening.
In July 2024, the world's largest chemical group announced the closure of two plants outside its integrated site in Ludwigshafen, Germany, where it is headquartered. For economic reasons, BASF plans to stop production of the plant protection agent glyphosate at its Knapsack and Frankfurt sites in Germany by the end of 2024 and subsequently close both sites. Starting in 2025, 300 jobs will be phased out.
According to the German "Handelsblatt" news on August 29, BASF chemical company will close its headquarters in Ludwigshafen, Germany, three other plants, the three plants involved in the production of a variety of intermediate products for plastics, pesticides and adhesives. The three facilities currently affected are set to close next year, with the announced closures involving the plastic intermediate product adipic acid.
In 2023, BASF had already significantly reduced capacity in Ludwigshafen, but now it is shutting down the plant. This suggests that the production of two other chemicals with adipic acid as the primary product no longer makes economic sense.
Basf has promised that there will be no layoffs for operational reasons at its Dwigshafen plant until the end of 2025.
This means that the approximately 180 employees affected by the current round of operations will not be laid off, but will be relocated to other locations.
Basf, considered the world's largest chemical complex, has been losing money for years. The losses were mainly due to the economic slowdown, bottoming chemical prices and a sharp rise in energy costs. The move is part of a restructuring of BASF's headquarters aimed at improving profitability across the entire production chain.
The closure of the BASF plant is not an isolated phenomenon, but a microcosm of the problems currently facing the German and European chemical industry. If demand is high and prices high, then BASF may also maintain energy-intensive production. However, this is not the case at present, and there will not be high demand and high prices for energy-intensive products in the foreseeable future.
As a result, further plant closures are expected in high-cost regions such as Germany and Europe, as Handelsblatt reported this week.
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2024-08-30 17:02
- Views:
At the beginning of 2023, BASF launched a group-wide savings plan. After that, 2,600 jobs will be cut globally. A year later, the group announced further tightening.
In July 2024, the world's largest chemical group announced the closure of two plants outside its integrated site in Ludwigshafen, Germany, where it is headquartered. For economic reasons, BASF plans to stop production of the plant protection agent glyphosate at its Knapsack and Frankfurt sites in Germany by the end of 2024 and subsequently close both sites. Starting in 2025, 300 jobs will be phased out.
According to the German "Handelsblatt" news on August 29, BASF chemical company will close its headquarters in Ludwigshafen, Germany, three other plants, the three plants involved in the production of a variety of intermediate products for plastics, pesticides and adhesives. The three facilities currently affected are set to close next year, with the announced closures involving the plastic intermediate product adipic acid.
In 2023, BASF had already significantly reduced capacity in Ludwigshafen, but now it is shutting down the plant. This suggests that the production of two other chemicals with adipic acid as the primary product no longer makes economic sense.
Basf has promised that there will be no layoffs for operational reasons at its Dwigshafen plant until the end of 2025.
This means that the approximately 180 employees affected by the current round of operations will not be laid off, but will be relocated to other locations.
Basf, considered the world's largest chemical complex, has been losing money for years. The losses were mainly due to the economic slowdown, bottoming chemical prices and a sharp rise in energy costs. The move is part of a restructuring of BASF's headquarters aimed at improving profitability across the entire production chain.
The closure of the BASF plant is not an isolated phenomenon, but a microcosm of the problems currently facing the German and European chemical industry. If demand is high and prices high, then BASF may also maintain energy-intensive production. However, this is not the case at present, and there will not be high demand and high prices for energy-intensive products in the foreseeable future.
As a result, further plant closures are expected in high-cost regions such as Germany and Europe, as Handelsblatt reported this week.
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