BASF SE has successfully completed the divestment of its shares in two joint venture companies located in Korla, China. The joint ventures, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd., have been sold to Verde Chemical Singapore Pte. Ltd., effective April 21, 2025.
This strategic move aligns with BASF’s broader goals of optimizing its global portfolio and addressing environmental concerns. The divestment comes amidst increased scrutiny over human rights issues in the Xinjiang region, although BASF has stated that internal and external audits found no evidence of human rights violations within the joint ventures.
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