BASF to double Asia Pacific sales
BASF has given details of its ‘Strategy 2020’ for the Asia Pacific region. It says that, up to 2020, it aims to grow on average two percentage points faster than the Asia Pacific chemical market each year. With expected market growth of 4-5% per year, this would double regional sales by 2020.
Under its new strategy, the chemicals specialist will initially target five key growth industries in the region, will increase headcount by at least 5,000 from a current figure of approximately 15,000, and plans to generate 70% of regional sales from local production. At the same time, the company will invest €2 billion in the region between 2009 and 2013, and aims to create efficiency improvements that are expected to save at least €100 million annually by 2012.
“The Asian growth markets will continue to provide attractive opportunities, and our Strategy 2020 will help us to realise them,” said Dr Martin Brudermüller, member of the board of executive directors of BASF SE, responsible for Asia Pacific. “The current economic situation does not change our positive expectations of the long-term potential of these dynamic markets.”
