BASF $BAS (+1,69 %) is making big changes, selling its construction paint business in Brazil to Sherwin-Williams for $1.15 billion. Why? Because it didn’t really fit with the rest of the company and was mainly focused on Brazil. In short: no huge loss for BASF, but a key step in their restructuring plan.
The chemical giant wants to focus more on its core business. What does that mean? Car coatings & co. might be next on the chopping block. At the same time, BASF is struggling with high energy costs and weak demand, especially in China. More cuts are looming in Ludwigshafen—plants shutting down, jobs disappearing, and €1 billion in savings planned by 2026.
Strategic refresh or sign of trouble ahead? What do you think? 💬
Source: dpa, company statements