German chemical giant BASF on Thursday unveiled details of a painful cost-cutting programme designed to cope with the impact of high energy prices and tough global competition. BASF’s main plant in the western German city of Ludwigshafen will be restructured, a step that is expected to involve lay-offs and further BASF chemical plants elsewhere could also be closed, according to chief executive Markus Kamieth. BASF’s agricultural division, meanwhile, will be spun off into separate companies by 2027 and a minority share of the division will eventually be floated for sale on the public stock mar…