Group 1: Core Business Operations - BASF Coatings division will switch to 100% renewable electricity at its North American locations in Greenville, OH, and Blackman Township, MI, starting January 2025, leading to a reduction of over 11,000 tons of CO2 emissions annually [1] - The Greenville facility manufactures resins, E-Coats, and clearcoats, while the Blackman Township facility focuses on surface treatment solutions under the Chemetall brand [2] - The company operates 17 facilities globally, all utilizing renewable electricity, which helps customers achieve a lower carbon footprint throughout the automotive value chain [3] Group 2: Sustainability Initiatives - By investing in renewable electricity, BASF aims to reduce its environmental impact and enhance sustainability in its operations, assisting consumers in achieving their sustainability goals [2][4] - Chemetall emphasizes sustainability through innovative surface treatment solutions, significantly decreasing carbon impact by switching to renewable electricity at its Blackman Township location [4] - The company is committed to innovation in CO2-reducing solutions, including thin film technology and the mass balance method, to support customers in their green transition [3] Group 3: Market Performance - BASF shares have increased by 1.3% over the past year, contrasting with a 3.4% decline in its industry [5] - The company currently holds a Zacks Rank of 5 (Strong Sell), indicating challenges in market performance compared to better-ranked stocks in the basic materials sector [5]
BASF Coatings Deploys 100% Renewable Electricity at Key Sites