Neville Prior 16 November 2011 10:00:19 AM
BASF plans to establish the global headquarters of its Dispersions & Pigments division in Hong Kong. As of January 1, 2012, the division head and about 50 global positions, currently located in Ludwigshafen and Basel, will transition to Hong Kong. Transfer of positions will be realized over a period of about 12 months. "Asia is already the largest market for our division today. We want to further participate in the dynamic growth in that region and beyond. To this end, we want to change the perspective from which we view our customer industries. By forming a global team at an international location we will also further increase attractiveness of BASF as a global employer ," said Dr. Markus Kramer, President of BASF's Dispersions & Pigments division. All employees affected by the transition and who will not move to Hong Kong will be offered other positions within BASF. The regional business and production units located in Europe and Asia are not affected by this move. The portfolio of the Dispersions & Pigments division includes pigments, resins, dispersions and additives such as photoinitiators, light stabilizers and formulation additives. Main customer industries are the coatings and paints industry, as well as the adhesive, printing and packaging industries. The division posted sales of €3.2 billion in 2010.