| BASF opens new engineering plastics compounding plant in Shanghai |
| Sunday,May 20,2007 Posted: 17:35 BJT(0935 GMT) chinaview |
SHANGHAI, May 19 (Xinhua) -- BASF, a leading international chemical company, celebrated the inauguration of its engineering plastics compounding plant at its Pudong site in Shanghai on Friday. The new facility is a world-scale plant with annual capacity of 45,000 tons. It is one of the most modern compounding plants in the world today, with "the highest environmental standards and the most efficient production capabilities available," according to a BASF official. "Our strategy is clear: We want to continue expanding our position as one of the leading producers of engineering plastics in the growing markets of Asia and be the preferred business partner for our customers," said Dr. Harald Lauke, President of BASF's Performance Polymers division. "With this new compounding plant we show our solid commitment to our customers in China and Asia Pacific. We gain flexibility to better serve our customers by reacting more rapidly to their needs and by ensuring a stable supply at short lead times close to the point of consumption." In the next 10 years, the Asia Pacific market for engineering plastics is expected to grow on average by about seven percent per year. In China this growth is expected to be higher. "We have ambitious targets in Asia Pacific: by 2010, we aim to achieve 20 percent of our group sales and earnings in the chemicals business in Asia Pacific; 70 percent of those sales are to come from local production," said Dr. Martin Brudermueller, member of the Board of Executive Directors of BASF Aktiengesellschaft, responsible for Asia. "This new plant will make a powerful contribution to these targets," he added. Alongside this new plant in Shanghai, BASF has similar compounding facilities in Malaysia and Korea, which are part of BASF's global network of engineering plastics and compounding plants. This network covers other countries in Europe, North and Central America. With the new plant, BASF's total compounding capacity in Asia exceeds 100,000 tons per annum. BASF has also set up a Technical Center for engineering plastics in Shanghai where its engineers design and optimize new engineering plastic parts in close cooperation with customers. The development support ranges from computer aided engineering in the initial design phase to component tests in the trial and launch phase. Further services comprise a state-of-the-art molding laboratory offering processing seminars to customers. This Technical Center in Shanghai is part of BASF's global and Asian network for engineering plastics, and other such centers operate in Nagoya in Japan and Seoul in Korea. Engineering plastics are widely used in automotive construction as well as the electrical and electronics industries. Some innovative applications include, component mounts, seat structures, oil sump modules, electronic control units, sensors, air intake manifolds, cylinder head covers, air spring and cooling elements as well as roof frames and highly integrated laser-structured electronic devices. BASF's portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. BASF has approximately 95,000 employees and posted sales of 52.6 billion Euro (approximately 66.1 billion U.S. dollars) in 2006. BASF is one of the biggest foreign investors in the China chemical industry. The company currently has more than 5,500 employees and operates 29 wholly-owned subsidiaries and nine joint ventures in Greater China. In 2006, BASF achieved sales of over 3.6 billion Euro in Greater China. BASF expanded rapidly in China. Recently, BASF Catalysts LLC has completed its purchase of Guilin REEcat Catalyst Co., Ltd (REEcat), to become the largest supplier of motorcycle catalysts in the country. |
| (Source: English Site of Lagos) |
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