BASF aims to double Asia Pacific sales by 2020

BASF lately outlined its Strategy 2020 for Asia Pacific. Through 2020, BASF aims to grow on average two percentage points faster than the Asia Pacific chemical market each year. With expected market growth of 4 to 5 percent per year, this would double regional sales by 2020 while earning a premium on cost of capital. Under its new strategy, BASF 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 2012 and 2013, and aims to create efficiency improvements that are expected to save at least €100 million annually by 2012. BASF has established its position as the leading chemical company owing to its long-standing commitment to the Asia Pacific region. The Asian growth markets will continue to provide attractive opportunities, and our Strategy 2020 will help us to realize 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."www.basf.comNike Air Jordan 11Lab4 Retro 4 Patent Leather