Change Of Business Model
We wish to inform you that pursuant to the new rules framed by Organisation for Economic Cooperation and Development (OECD), BASF has decided to phase out the agency business. Accordingly, the Board of Directors of the Company has approved the proposal to replace the agency business of the Company with the merchandise business model effective financial year 2019-20, subject to consultation with the customers and such other approvals, permits as may be required in this regard.10-09-2018