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BASF pays attention to developing new business in China

BASF pays attention to developing new business in China 4 Before the experiment, it is necessary to check whether the empty stroke of the pendulum means zero (new business when the pendulum sags freely

May 16, 2002

"in the next few years, the chemical market in Asia will have strong growth. Among them," 1035 " During this period, China's chemical industry market has the greatest potential. Buss is willing to make progress with China and take the road of modern chemical industry. " At the BASF Asia Pacific Annual Conference held in Shanghai a few days ago, dr.dietmarnissen, President of BASF East Asia, said

Ni Xuande pointed out that Japan is the largest economy in Asia, with an annual demand for chemical products of 230billion

euros. With China's accession to the WTO, China's textile, home appliances, automotive, construction, shoe-making and other industries will accelerate the development of

, and the demand for chemical products, including polyurethane and elastic fiber, will also rise. As the world's fastest growing economy, China's chemical market will surpass Japan's by 2010

for globalized industry, 2002 is still a difficult year. The growth of the whole EU is relatively weak, but the Asian economy shows signs of recovery. In the next few years, the average annual economic growth rate of Asia except Japan will reach 6.5%. Among them, China's economic growth will exceed 7%. Economic growth will inevitably drive the development of the chemical industry

"BASF should share this growth." Ni Xuande said, "although the competition in the Asia Pacific market is fierce, BASF is building the most advanced production plants in the region and expanding localized production to strengthen its market position and profitability in the region."

it is reported that BASF has established 26 wholly-owned companies in the Asia Pacific region, including the production process and mold design department and 26 joint ventures, with a total investment of 2.6 billion euros and a total staff of nearly 10000. At present, BASF has drawn up a five-year investment plan with a total value of

4.5 billion euros with partners in the Asia Pacific region. Most of these projects are located in China

the most striking is the Jiangsu Nanjing integrated petrochemical base. The base, which is jointly built by BASF and Sinopec, covers an area of 220 hectares. Its core is a steam cracking unit with an annual output of 600000 tons of ethylene, which will provide raw materials for 9 world-class downstream units. This is the first joint venture with a world-class steam cracking unit approved by the Chinese government, with a total investment of 2.9 billion euros. It will be completed and put into operation in 2005, with BASF holding 50% of the shares. It is estimated that the demand for natural gas in the East China Sea of the project will reach 600million

per year. Secondly, BASF, Huntsman polyurethane and their Chinese partners plan to jointly build a 160000 ton/year MDI and 130000 ton/year TDI unit in Caojing

Shanghai chemical industry zone located in the north of Hangzhou Bay. The total investment of the project reaches 1billion euros. It is expected to obtain a business license issued by the Chinese government in the third quarter of this year. It is expected that all projects will be completed and put into operation in 200

4 years. MDI and TDI are important raw materials for the production of polyurethane, which is widely used in automobile, construction, home appliances, furniture, shoe-making and other industries

BASF will also build a set of the world's largest integrated production facilities with an annual output of 60000 tons of polytetrahydrofuran and 80000 tons of tetrahydrofuran in Shanghai Chemical Industry Park. The factory is expected to be completed and put into operation in 2004, and the products will be supplied to China's elastic fiber market, which should develop rapidly

In addition to the above projects, BASF also has one wholly-owned enterprise and seven joint ventures in China, and has set up offices in six cities, including Beijing, Shanghai and Guangzhou, with a total number of 2600 employees. BASF has become one of the leading foreign investors in China's chemical industry

it is understood that BASF's business in China has maintained a double-digit growth rate. In 2001, BASF sold 1.1 billion euros in the Chinese market. BASF's important business areas in China include: polymer latex, phenethyl

ene, polystyrene, polyurethane, engineering plastics, coatings, intermediates, vitamins, crop protection products, carpet fiber

dimension, and finishing products for textile and leather industries

Ni Xuande pointed out that in the first quarter of this year, BASF's sales in the Asia Pacific region increased by 3.6% year-on-year, and its operating revenue increased by 93% year-on-year. There are signs that the economy of the Asia Pacific region will grow moderately. Economic recovery depends largely on oil prices. At present, the world oil price is at a high level, reaching $16 per barrel, and its future trend is difficult to predict. However, BASF is confident in the economic recovery of the Asia Pacific region

"BASF is particularly confident in the prospects of the Chinese market. It will continue to expand investment, strengthen cooperation with its Chinese counterparts, and commit itself to sustainable development in China. BASF will become a founding member of the upcoming China Commission on sustainable development." Ni Xuande said

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