BASF targets 10bil euros investment in Asia-Pacific

KUALA LUMPUR: BASF targets 10bil euros of investments in the Asia-Pacific under its strategy to achieve sales of 25bil euros in the region by 2020.

It said on Tuesday its global "We create chemistry" strategy in Asia Pacific, the investment over 2013 to 2020 would include investments of partners and exclude investments in intangible assets.

BASF said it plan included creating 9,000 jobs in Asia Pacific by 2020 while 25% of global R&D activities would be in Asia Pacific by 2020.

It said these efficiency measures would enable it to save 1bil euros annually by 2020.

"In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry.

“With our Asia Pacific strategy, we are positioning BASF as the leading provider of sustainable solutions for the Asia Pacific region," said Dr. Martin Brudermller, vice chairman of the board of executive directors of BASF SE, responsible for Asia Pacific.

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