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Leading nutritional ingredients maker BASF has announced a series of steps to strengthen the competitiveness of its Performance Products segment in the nutrition and health division. The measures also include about 260 job cuts worldwide by end of 2015.
The measures target at adjusting product portfolio and organisational processes to market needs and strengthening competitiveness of the performance products segment planned.
BASF is adjusting its product portfolio in order to better meet changing consumer needs and regional demands. In Asia, BASF is building a citral plant with its partner Petronas to meet the growing demand of customers in the flavor and fragrance industry in the region. The first plants of the complex are expected to come on stream in 2016. At the same time, BASF will focus its production in the growing market of omega-3 fatty acids on the attractive market segment for highly concentrated omega-3 fatty acids and plans to sell the Norwegian Brattvåg site. BASF produces low concentrated omega-3 fatty acids at this site.
“Marketing, sales and administration will be better adjusted to regional market dynamics. A global team responsible for marketing and innovation will in future support the development of customer-oriented products and solutions as well as faster market launches of new products. BASF aims to accelerate the innovation cycle of products for its customers through strategic partnerships,” company said.
Due to the planned measures about 260 positions in production, marketing and administration will be reduced globally by 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.