Basf Lta Agreement

Under the title “The new BASF live together!”, the agreement applies to the approximately 34,000 BASF SE employees at the Ludwigshafen site. “The BASF SE Executive Employees Representatives Committee supports the new implementation agreement and continues the cultural changes initiated by the company`s strategy. Leaders play a crucial role in this. They motivate and inspire employees, give directions and assume their responsibilities. The location agreement provides them with a reliable framework that allows them to successfully meet future challenges with their employees,” said Rainer Nachtrab, Chairman of the BASF SE Group`s Executive Representatives Committee. BASF SE will continue to renounce forced redundancies for the duration of the agreement. “Mutual respect and trust have not only been revealed in the negotiations on the new implementation contract, but have for many years been the basis for cooperation between management and the works council,” Heinz said. “While the coronavirus pandemic poses enormous and unprecedented challenges for us all, we continued negotiations and signed the agreement. This is the social partnership we do every day at BASF. In the new location agreement, company management and workers` representatives also agreed to develop existing transport offers for employees. Local public transport plays a key role in this regard. In the third quarter of 2020, BASF will offer employees at the Ludwigshafen site a new annual ticket for the Rhine-Neckar transport network at a reduced rate subsidized by BASF. The new implementation agreement is a commitment to Ludwigshafen`s role within BASF by the company`s management and workers` representatives.

The site should serve as a model and precursor for the entire group when it comes to meeting key challenges. With the new implementation agreement, BASF is implementing an additional commitment for the Ludwigshafen research site. Although BASF has been increasingly globalizing its research activities and focusing on growing markets for many years, Ludwigshafen remains the main research and development site of the BASF Group. The company`s management and representatives of BASF SE workers have signed a new location agreement. “Since the late 1990s, the objectives of location agreements have been two main objectives. The first is to show, through investments, reliable and robust prospects for the development of the Ludwigshafen site. The second is to establish mandatory protection mechanisms for workers. We have achieved both of these goals again in the 2025 agreement,” said Sinischa Horvat, chair of BASF SE`s business committee.┬áIn view of the current crisis, the rapid conclusion of the location agreement in 2025 is a strong and positive signal for staff and the region.” In addition, the agreement foresees that by 2025, at least 1.5 billion euros will be spent on average each year for investment, modernization and maintenance at the Ludwigshafen site. Another priority of the localization agreement is the common commitment to vocational training in business. It is the cornerstone that ensures a long-term supply of skilled workers to meet the growing demand. The commitment to vocational training within BASF SE and BASF Training Verbund continues at the highest level. “We are facing a series of major changes, driven by demographic changes, limited natural resources and digitization.

The conditions under which we do business are changing more and more quickly,” explains Michael Heinz, BASF SE`s executive committee member and site manager.