BASF Corp is to close BASF Magnetics Corp, based in Bedford, Massachusetts, offering severance packages to 115 employees, who are mainly involved in sales and marketing. At year-end it will discontinue handling the magnetic tape business in the US and Canada for BASF Magnetics GmbH, and BASF Magnetics GmbH will assume direct responsibility through independent distributors for the professional duplicator audio-video studio and data media businesses in the US and Canada – where 13 employees in similar functions in Toronto will also be offered severance pay.
