BASF SE, the German parent company of BASF India, has unveiled a new global corporate strategy focusing on portfolio management and value creation. Under its new “Winning Ways” strategy, BASF aims to focus, accelerate, transform, and win across different business segments.
As part of the strategy, BASF is exploring options for its Coatings business globally. In India, this could involve transferring the Coatings business to BASF India Coatings Private Ltd., a wholly owned subsidiary, by the end of 2024.
Additionally, BASF has announced plans to legally and operationally separate its Agricultural Solutions business globally by 2027, with a potential Initial Public Offering (IPO) being considered for this segment in the future. This aligns with their approach to differentiated steering, which aims to empower, differentiate, and simplify their operations.
BASF India is currently assessing the impact of this new global strategy and will provide updates as developments unfold.
The shares of BASF India closed 2.53% higher at Rs 6900 on NSE.
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