BASF aims to invest more than €1bn ($1.3bn) in additional plants in China in the next few years, as the world’s largest chemicals maker by sales eyes expansion in the rapidly growing region where its factories are running at full steam.
The German chemicals maker will invest “€2bn-plus” into its 100 Asian sites by 2014, at least half of which will flow into China, Martin Brudermüller, executive board member and head of BASF’s Asia-Pacific operations told the Financial Times.
“We are certainly in discussions about building new plants in Asia. If you want to keep the growth pace you have to invest,” said Mr Brudermüller, the Hong Kong-based manager who next year will become deputy chief executive.
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