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| Exchange Disseminated Time | BASF India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 30, 2013, inter alia, has approved the following:
1. The 69th Annual General Meeting (AGM) of the Company will be held on August 30, 2013 at 3.00 p.m. at Yashwantrao Chavan Pratisthan Auditorium, Y.B.Chavan Centre, General Jagannath Shosale Marg, Nariman Point, Mumbai - 400021.
2. The Board has appointed Mr. Gops Pillay as Director of the Company in the casual vacancy caused by the resignation of Ms. Saori Dubourg with effect from April 30, 2013.
3. The Company has reduced the number of Business Segments from five to four in order to serve its customers more effectively and to enhance its operational and technological excellence. A new division known as "Performance Materials" has been created in the current Functional Solutions segment, which has been re-named as "Functional Materials & Solutions". The Performance Materials business bundles BASF’s innovative, downstream plastics from the current Performance Polymers and Polyurethanes divisions, which were earlier part of the Plastic Segment. Plastics Segments will now cease to exist. Similarly, a new Division known as "Monomers" has been created under the Chemicals Segment. Consequently, the Chemicals Division will now comprise of Intermediates, Monomers and Petrochemicals businesses.
The Company has adopted the new segment structure with effect from April 01, 2013. Accordingly, Company will submit its segment reporting in accordance with the new segment structure from the quarter April - June 2013 onwards. |
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