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06-21-2007

BASF: Next Milestone in Conversion into SE

The conversion of BASF Aktiengesellschaft, Ludwigshafen, Germany, into a European Company (Societas Europaea, SE) has reached a further milestone: On June 12, the special negotiating body of employees (SNB) held the constituent meeting in Heidelberg, Germany. The 29 European employee representatives of BASF voted for Robert Oswald, Chairman of the Central Works Council, to chair the SNB.

At its meeting, the SNB established a twelve-man negotiating committee, comprising representatives from Belgium, Germany, France, Great Britain, Italy, Poland, Spain as well as an executive representative. The committee will negotiate an employee participation agreement with representatives of the company’s management by no later than November. Hans-Carsten Hansen, President Human Resources at BASF is chief negotiator for the management board. The agreement governs issues such as cross-border information for and consultation of employees as well as their participation on the supervisory board.

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