BASF Accelerates Exit from Xinjiang Joint Ventures Amid Human Rights Concerns
TL;DR
BASF has initiated the process to divest its shares in two joint ventures in Korla, China, due to increased competitive pressure and concerns about the high carbon footprints of the products. The decision is also influenced by recent reports of serious allegations related to the joint venture partner's activities inconsistent with BASF's values. Despite this, BASF remains committed to its business activities and planned investments in China, where it anticipates significant growth in chemical production until 2030.
- BASF to divest shares in its two joint ventures in Korla, China BASF
- BASF to Speed Up Exit From Two Chinese Joint Ventures Over Xinjiang Human-Rights Concerns The Wall Street Journal
- German firm BASF to pull out of Xinjiang after Uyghur abuse claims The Guardian
- BASF to divest from China joint ventures over Xinjiang abuse claims South China Morning Post
- BASF to sell holdings in two Xinjiang chemical plants Financial Times
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