BASF aims to achieve 10 percent of its global sales and earnings in the chemical business in China by 2010. The importance of the company? activities in China was stressed in a press conference in Nanjing on the day before the opening ceremony of the company? first Verbund site in China.
The site is the largest single investment in BASF? 140-year history and an integral part of BASF? strategy in the Asia Pacific region.
?e want to shape the future of Asia with our chemistry,?said Dr. J?gen Hambrecht, Chairman of BASF? Board of Executive Directors. ?hat is why we have built the most modern plants, and use the latest highly integrated processes at our new Verbund site in Nanjing.?
Overall, BASF has invested ?.6 billion in Asia between 1990 and 2005. To further expand BASF? production network for cost-efficient standard and base chemicals, high-value specialty chemicals and tailor-made systems, BASF plans to invest an additional ? billion until 2009.
?e are convinced that China will remain the growth engine in Asia overall and for the chemical industry in particular,?said Dr. Andreas Kreimeyer, member of BASF? Board of Executive Directors responsible for Asia Pacific, ?he new Verbund site in Nanjing will make an important contribution toward achieving our ambitious goals in this region.?
BASF-YPC Co. Ltd. is a 50-50 joint venture between BASF and SINOPEC. The 220-hectare site produces 1.7 million metric tons of high-quality chemicals and polymers per year for the rapidly growing Chinese market.
