BASF To Cut 260 Jobs

(RTTNews) - Chemical Company BASF (BFA.L, BASFY.PK) Friday said it will reduce about 260 positions in production, marketing and administration globally, by the end of 2015, as a part of strengthening the competitiveness of its performance products segment.

Also, the company said it is adjusting its product portfolio for meeting the changing consumer needs and regional demands.

To meet the rising demand of customers in the flavor and fragrance industry, currently BASF is building a citral plant with its partner Petronas, in Asia.The first plants of the complex are expected to come on stream in 2016.