Core Viewpoint - BASF announced its exit from the sulfite business and the closure of its related plant in Ludwigshafen, Germany, affecting approximately 65 employees, as part of a strategic evaluation of its production facilities [1] Group 1: Strategic Focus - The decision reflects BASF's commitment to focusing on business activities with long-term value creation potential [1] - The president of BASF's monomer business unit emphasized that focus is the core of BASF's success strategy, ensuring competitiveness in a challenging economic environment through profitability and long-term value creation [1] Group 2: Market Context and Cost Reduction - Sulfites are used as reducing agents in the textile industry and as bleaching additives in the pulp and paper sector [1] - In response to changing market and economic conditions, BASF initiated cost-cutting and efficiency-enhancing transformations, launching specific measures in February 2023 to reduce costs in non-production areas in Europe [1] - Additional cost reduction measures for the Ludwigshafen site were announced in early 2024, alongside a new "Winning with Purpose" strategy that differentiates management of core and autonomous businesses [1] Group 3: Business Divestitures - In recent years, BASF has sold various businesses, including bioenergy enzymes, mining flocculants, food and health functional ingredients, and decorative coatings in Brazil [1]