BASF to Exit Two Xinjiang Joint Ventures on Human-Rights Concerns
Provided by
Dow Jones
By Helena Smolak
BASF plans to sell its shares in two joint ventures in China's Xinjiang region, citing allegations against its partner that the German company deemed inconsistent with its values.
The German chemical giant said Friday that it doesn't have indications that employees of the two joint ventures located in Korla were involved in the alleged human-rights violations.
The move comes after reports in the German media about human rights abuse of Uyghur people that prompted calls on BASF to exit Xinjiang.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
February 09, 2024 08:47 ET (13:47 GMT)
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