BASF: Change of Legal Form
The management and supervisory board of BASF AG, Ludwigshafen/ Germany, have decided to propose to the AGM on 26th April that BASF Aktiengesellschaft be converted to a European Company (Societas Europaea, SE) with the name BASF SE. The company’s base and headquarters will continue to be in Ludwigshafen. The European Company is a modern legal form for a globally active company with a home market in Europe, according to Dr. Jürgen Hambrecht, chairman of BASF AG. The legal form of the European society is an expression of an entrepreneurially lived Europe. BASF is thereby strengthening the participation of European employees in the company and presenting itself as a pioneer of the European chemical industry, Hambrecht continued.
The evidence for this view is provided by these figures: in 2006, BASF made about 60% of its sales in Europe and on 31st December two thirds of its more than 95,000 labour force were employed in its home market.
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