BASF merges water treatment, oilfield services units
FRANKFURT, March 27 (Reuters) - BASF , the world's largest chemicals company by sales, said it would combine its water solutions, oilfield and mining solutions businesses to cut costs.
As part of the overhaul, which will result in 215 job cuts worldwide, BASF will sell its industrial water management business in France, it said in a statement on Wednesday.
At the same time, it is preparing "significant investments" at the new unit to upgrade existing plants, create additional capacity, and strengthen its research efforts.
(Reporting by Ludwig Burger)
((ludwig.burger@thomsonreuters.com)(+49 69 7565 1311)(Reuters Messaging: ludwig.burger.thomsonreuters.com@reuters.net))
Keywords: BASF WATER/
FRANKFURT, March 27- BASF, the world's largest chemicals company by sales, said it would combine its water solutions, oilfield and mining solutions businesses to cut costs. As part of the overhaul, which will result in 215 job cuts worldwide, BASF will sell its industrial water management business in France, it said in a statement on Wednesday.