BASF Speeds Xinjiang Exit Over Human Rights Abuse Reports (1)

BASF SE is accelerating a planned divestment from two joint ventures in China’s Xinjiang region following reports of alleged human rights violations.

The German chemicals company didn’t say when the sale of its stakes in the two companies — Korla-based Markor Chemical Manufacturing Co. and Markor Meiou Chemical Co. — would be complete, after having started the process during the last quarter.

BASF said Friday that regular due diligence measures have not found any evidence of human-rights violations at the two joint ventures. But recently published reports related to the partner “contain serious allegations that indicate activities inconsistent with BASF’s ...