BASF Corporation has appointed Fried-Walter Muenstermann as executive vice president and CFO, effective Feb. 1, 2006. Muenstermann succeeds Hans-Ulrich Engel, who will remain with BASF Corporation as executive vice president, and will focus on managing BASF's planned acquisition of Engelhard Corporation, Iselin, N.J.

"Hans played a critical role in BASF's successful restructuring in North America," said Klaus Peter Loebbe, chairman and CEO of BASF Corp. "He was instrumental in driving our North American business to achieve strong earnings growth. We are looking forward to continuing the profitable growth in this market as Fried-Walter joins the management team."

Prior to this assignment, Muenstermann served as group vice president, Regional Functions and Business Development in Europe, for BASF AG in Ludwigshafen, Germany. He served as managing director, BASF plc., in Cheadle, U.K., from 2001 to 2003, and prior to that was vice President, controlling and investor relations for BASF Pharma, Ltd., for four years.

In 1995, Muenstermann was named senior manager, corporate development for BASF subsidiary Knoll AG. He joined BASF Magnetics GmbH in 1992 in the finance and accounting/controlling division. Muenstermann studied business administration at the University of Muenster and the University of Cologne.

BASF Corporation, headquartered in New Jersey, is the North American affiliate of BASF AG, Ludwigshafen, Germany. As a leading global company, BASF has a product portfolio that ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. In 2004, BASF had approximately 82,000 employees and posted sales of more than $50 billion.

SOURCE: BASF Corporation via PR Newswire.