BASF announced on September 24 its decision to exit the sodium hydrosulfite business and close the relevant plant located in Ludwigshafen, Germany.
BASF stated that this move is part of the ongoing strategic review of its production facilities in Ludwigshafen and also reflects the company's determination to focus on business activities with long-term value creation potential.
"Focus is the core of BASF's 'Winning with Purpose' strategy," said Kenan 阮 (Ruan), President of BASF's Monomers division. "By focusing on profitability and long-term value creation, we can ensure the company's competitiveness in a challenging economic environment."
In response to changes in the market and economic environment, BASF has launched reforms to reduce costs and improve efficiency. In February 2023, it rolled out a series of specific measures to cut costs in non-production areas in Europe and adjust the production structure of the Ludwigshafen site. At the beginning of 2024, BASF announced additional cost-reduction measures for the Ludwigshafen site once again. In September 2024, BASF released its new "Winning with Purpose" strategy, which implements differentiated management for core businesses and autonomous businesses. In recent years, the company has successively sold businesses such as bioenergy enzymes, mining flocculants, food and health functional ingredients, and decorative coatings in Brazil.
