PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


BASF Plans Major Presence in Asia Pacific

Thursday, October 8, 2009

Comment | More

In the past week, BASF (Ludwigshafen, Germany) outlined its Strategy 2020 for Asia Pacific, a strategy that the company will use to increase its growth by an average of two percentage points faster than the regional Asia Pacific chemical market each year through 2020. With an already expected regional market growth of 4-5% per year, BASF’s plan would double regional sales while earning a premium on cost of capital.

BASF plans to invest $2.95 billion (€2 billion) between 2009 and 2013 in the Asia Pacific region in order to produce 70% of BASF’s total sales there. This includes the company’s 50% share of the $1.4 billion expansion of its integrated chemical production joint venture in Nanjing, China. BASF is also in the planning phase for a 400,000-ton per year plant in Chongqing, China, for MDI, a precursor for polyurethanes. The company aims for mechanical completion of the plant by 2013, with commercial operation in early 2014.

The company plans to organize sales efforts around key industries in Asia Pacific. The initial target groups include paint and coatings, construction, automotive, packaging, and pharmaceuticals. BASF will actively seek opportunities to support developing markets in relatively untapped locations, such as Vietnam and inland China, the company says.

Also by 2020, BASF plans to increase the number of employees it has in the Asia Pacific by 5,000. Already in China and India, the company has set up dedicated recruitment centers to manage the increase in hiring. The number of employees in research and development is also expected to double.

By 2012, BASF intends to reduce costs by $147.5 million (€100 million) annually. According to the company, an important aspect of the cost savings is the Site Optimization Project, which will increase capacity through debottlenecking production and exploiting technical synergies. Site optimization is already ongoing at the company’s integrated production sites in Kuantan, Malaysia; Nanjing, China; and Yeosu, Korea.

For further information, visit www.basf.com.

   

Tagged categories: BASF; Expansions

Comment Join the Conversation:

Sign in to our community to add your comments.

ITW Binks
Built for Tough Jobs

From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.


Advanced Recycling Systems
ADVANCED RECYCLING SYSTEMS (ARS)

Recycling Machines, Dust Collectors, Rapid Deployment units are time-tested and approved for the rugged industrial environment. Contact ARS today!
(330)536-8210


Novatek Corporation
Dustless Coatings Removal

Strip it, clean it, and profile it,
all dust free! High production
rates and Blast like finishes.
Comply with new lead
standards.


Polygon
POLYGON - Temporary Humidity Control

We specialize in innovative climate control solutions for industrial painting, utilizing alternative energy sources and combining desiccants with heating or cooling.


DeLong Equipment
Delong Equipment Co.
Blast Equipment Products

"The Delong Equipment Company .….supplying abrasive blast equipment, parts and abrasives to blasting contractors, manufacturers and industry for over 45 years”


Abrasives Inc.
Check our Prices for Blast Abrasives

Faced with higher abrasive costs? We invite you to call & check our rates on Black Magic® coal slag and other quality blast materials. Abrasives Inc. 800-584-7524


Absolute Equipment/Grand Rental Station
Portable Power from Absolute Equipment

•Compressors
•Lighting Systems
•Generators
•Light Compaction
Sales • Rental • Service
Call 1-866-931-6655
Over a century of
providing excellence.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com