BASF builds two new manufacturing plants in Shanghai |
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Published
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Tue, 20 Mar 2007 12:39
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FRANKFURT (AFX) - BASF AG said it is building two plants in Pudong, near Shanghai, to manufacture polyacrylate polymers and speciality chemicals for leather tanning.Both facilities are expected to be completed in the first quarter of 2008, the company said in a statement.BASF did not disclose financial details.The polyacrylate polymers plant will have an annual minimum capacity of 30,000 metric tonnes, while the speciality chemicals plant is to have a minimum annual capacity of 12,000 metric tonnes in liquid or powder form.'We are now moving even closer to our goal of achieving 20 pct of group sales in the chemicals businesses in Asia Pacific by 2010, with 70 pct coming from local production,' said Wolfgang Hapke, BASF's president of market and business development in the Asia Pacific region.krysia.diver@afxnews.comkd/cmrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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