By Pierre Bertrand and Helena SmolakBASF intends to adapt the operating model of its battery materials and agricultural units, a move that faces opposition from German trade union IG Bergbau, Chemie, Energie. Germany's IGBCE union, in a statement, said that BASF will spin off the three businesses and that they will transferred to legally independent units. "We did not wish for a spin-off of parts of the company's business units", Sinischa Horvat, works council chair. A BASF spokesperson said the units will remain an integrated part of the group, but will be given more freedom in their management. BASF will continue to apply its integrated Verbund business model comprising its chemicals, materials, industrial solutions and nutrition and care units, but with a much tighter focus on resource use, the company said.

Source: Wall Street Journal December 07, 2023 13:25 UTC