BASF announces that it has begun the process of divesting its interests in two joint ventures, BASF Markor Chemical Manufacturing (Xinjiang) and Markor Meiou Chemical (Xinjiang), both located in the city of Korla, China.

As part of BASF's global strategy for 1,4-butanediol (BDO), BASF was asked to assess the market environment and carbon footprint of BDO products at various production sites around the world.

BASF asserts that internal and external audits revealed 'no evidence of human rights violations in either joint venture'.

Nevertheless, 'recently published reports concerning the joint venture partner contain serious allegations of activities incompatible with BASF's values', says the company without giving further details.

BASF therefore intends to accelerate the ongoing process to divest its shares in both joint ventures.

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