In the fourth quarter of 2023, BASF started the process to divest its shares in the two joint venture companies BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China. As part of BASF’s global strategy for 1,4-butanediol (BDO), BASF has assessed the market environment and product carbon footprints (PCF) of BDO and its downstream products from different production sites worldwide. BDO value chains are under increased competitive pressure and characterized by global overcapacities. Furthermore, carbide-based BDO and polytetrahydrofuran produced in Korla have a significantly higher PCF due to the use of coal as a base raw material and the high energy intensity of the production process. In the future, BASF will customize its global portfolio of BDO and affiliated downstream products to provide competitive low-PCF offerings.