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Joint Ventures

All articles tagged with #joint ventures

business-human-rights1 year ago

BASF Accelerates Withdrawal from Xinjiang Amid Human Rights Concerns

German chemicals producer BASF has announced its decision to withdraw from its two joint ventures in Xinjiang, China, following reports of alleged human rights abuses related to its partner company, Markor Chemical. Despite not finding evidence of violations in its due diligence measures, BASF cited recent reports as inconsistent with its values. The decision comes after a group of politicians urged the company to withdraw from Xinjiang, where state-sponsored human rights abuses against Uyghurs have been widely reported. BASF's CEO emphasized that the company was not involved in the alleged abuses and hopes to complete the withdrawal within the next few months.

via The Guardian|
#basf#business-human-rights#china
business1 year ago

BASF Accelerates Exit from Xinjiang Joint Ventures Amid Human Rights Concerns

BASF has initiated the process to divest its shares in two joint ventures in Korla, China, due to increased competitive pressure and concerns about the high carbon footprints of the products. The decision is also influenced by recent reports of serious allegations related to the joint venture partner's activities inconsistent with BASF's values. Despite this, BASF remains committed to its business activities and planned investments in China, where it anticipates significant growth in chemical production until 2030.

via BASF|
#1#4-butanediol#basf
labor-relations2 years ago

"EV Battery Plants and UAW Contract Talks: The Influence of Elon Musk and Tesla"

The emergence of multibillion-dollar EV battery plants has become a wildcard issue in the labor negotiations between the United Auto Workers (UAW) union and major automakers. These plants, crucial for the industry's future and President Joe Biden's push for domestic manufacturing, are separate joint ventures with their own negotiations and contracts, not covered by the current labor agreements. UAW leadership aims to ensure a "just transition" to EVs for auto workers, including those in battery plants. Both sides could use the battery plants as leverage indirectly in negotiations to establish future protections or restrictions for EV workers. GM, the only automaker with a unionized battery plant, argues that these workers should be paid less than traditional assembly workers. The UAW has released a white paper highlighting safety concerns at the GM plant and suggests that the national labor agreement could be a model for addressing these issues. However, negotiations between Ultium and the UAW are still far apart on wages and benefits.

via CNBC|
#ev-battery-plants#joint-ventures#labor-negotiations
business2 years ago

Diageo Ends Partnership with Diddy, Citing Minimal Contribution

Diageo, the beverage company, has ended its business relationship with Sean Combs, also known as Diddy, after he sued them for allegedly neglecting their joint ventures, Ciroc vodka and DeLeón tequila. Diageo claims that Diddy's actions breached their contracts and that he only contributed $1,000 to the joint ventures despite making significant profits. The company expressed disappointment in Diddy's actions and stated their commitment to the success of the Ciroc and DeLeón brands. Diageo owns over 200 liquor brands and had a business relationship with Diddy since 2007.

via Yahoo Entertainment|
#business#ciroc-vodka#diageo
business2 years ago

UAW President Takes Strong Stance Against Big Three Automakers and Non-Union EV Operations.

The new president of the United Auto Workers union, Shawn Fain, has listed grievances with Stellantis, General Motors, and Ford, demanding the union win back cost-of-living pay raises and pensions they lost, and the elimination of tiers of workers who are paid differently but do the same jobs. Fain's biggest beef, though, seemed to be with Stellantis, which is moving to close a factory in Belvidere, Illinois. The disputes will become part of national contract talks between the union and the auto companies that will begin this summer.

via Fox News|
#automakers#business#contract-talks