bASF announced that it is optimizing its organizational structure to refect the com- pany's strategy. BASF is reducing the num- ber of segments from 6 to 5 and the number of divisions from 15 to 14. The changes will be efective as of 1 January 2013. "In the new organization, the bundling of product groups with the same business model will help management to better focus on the success factors necessary to be a market leader both in meeting customers' needs and in operational excellence," says Kurt Bock chairman of BASF.
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