BASF to Run Agricultural Unit As Separate Business
BASF on Thursday said its agricultural and battery materials businesses will function more independently moving forward as the German chemicals giant seeks to unlock earnings potential by changing the way it operates, according to Agriculture Dive.
In an investor update, CFO Dirk Elvermann said the company is taking a more “differentiated approach” to steering individual businesses within BASF, giving certain segments that are less integrated into its core value chain “more space to meet industry-specific needs.” BASF has no plans to sell the businesses at this time.
The new approach involves adapting business models and processes, including IT systems and governance frameworks, for the company’s agricultural and battery materials units. This comes as Bayer and other competitors make moves to split off their business divisions amid challenging market dynamics.
Read more at Agriculture Dive.
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