BASF restructures
This article was originally published in The Rose Sheet
Executive Summary
In effort to prepare for the integration of Cognis, German chemical firm BASF is downscaling its Care Chemicals division so that it comprises only personal care, hygiene, home care and industrial formulator categories, firm reports July 29. Effective Aug. 1, nutrition ingredients, aroma chemicals and pharma ingredients, previously under Care Chemicals, will make up the new Nutrition & Health division. Both divisions will continue to fall under the Performance Products segment. Gabriel Tanbourgi, president of the original Care Chemicals division, will continue to lead the unit. Walter Dissinger, currently VP, Crop Protection, Latin America, will be president of the new division. BASF acquired Cognis June 23 for $3.8 bil., making it the global leader in personal-care ingredients (1"The Rose Sheet" June 28, 2010)