BASF to set up global business unit dedicated to pigments next year

NEW DELHI: Germany's BASF today said it would establish a new global business unit fully dedicated to pigments in January next year.

It also intends to set up separate legal entities for its pigments activities in the second half of 2016, its Indian subsidiary BASF India said in a regulatory filing to the BSE.

"Our parent company BASF SE, Germany today announced the setting up of a new global business unit combining all its pigments activities effective January 2016," the BSE filing said.

This new unit will fully concentrate on the pigments business and will help to further strengthen its support to the needs of the pigments customers worldwide, it said.

BASF's pigments businesses serves industries such as paints, coatings, printing and plastics. It competes in pigments with companies such as Clariant, DIC Corp and Ferro Corp.