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BASF announced it has finalised the sale of its stakes in Markor Chemical Manufacturing and Markor Meiou Chemical to the Singaporean firm Verde Chemical. As reported by France 24, the German company did not disclose any financial specifics regarding the transaction, which was concluded on Monday "after receiving approval from the relevant authorities."
In February 2024, BASF indicated it would expedite its divestment from the joint ventures producing the industrial chemical butanediol. The plans to divest were previously revealed by BASF in 2023 due to concerns over commercial and environmental issues, according to France 24. According to reports from German public broadcaster ZDF and news magazine Der Spiegel, employees of BASF's partner company Markor were implicated in human rights abuses against the predominantly Muslim Uyghur minority, as cited in a report by France 24. These employees were allegedly involved in monitoring Uyghur families and reporting their findings to Chinese officials. BASF stated at the time that it had not suggested that workers from the joint ventures had committed rights violations, only staff from its local partner, as per the France 24 report. Human rights organisations have consistently accused Beijing of implementing a broad crackdown on minorities in Xinjiang, which includes forced labour and detention facilities. Beijing refutes these accusations, maintaining that its actions in Xinjiang have been aimed at combating extremism and promoting development, as stated in the France 24 report. Despite the controversies linked to the Xinjiang facilities, BASF has been increasing its investments in China while production expenses remain high in Europe. The German company is currently constructing a new chemical complex in Guangdong province, with an investment of 10 billion euros (USD 11.5 billion). China systematically represses Uyghurs through mass surveillance, forced labour, cultural erasure, and financial control. Millions are detained in camps, their properties seized, and economic freedoms stripped. Under constant monitoring, Uyghurs face religious persecution and displacement, while CCP policies aim to erase their identity and assimilate them into Han Chinese society. (ANI)
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