(EnergyAsia, June 11 2013, Tuesday) — Germany’s BASF has unveiled its “smart growth” strategy for the Asia Pacific region with plans to invest 10-billion euro, create 9,000 new jobs, achieve 25-billion-euro in sales and realise one billion euro in efficiency measures over the next seven years. (US$1=0.75 euro).
The global chemical giant said it is also committing a quarter of its global R&D activities in the region to develop solutions to meet the challenges of resource efficiency, food and nutrition, and improve the quality of life. It will aim to provide solutions for low-carbon construction, advanced pharmaceutical production, environmentally-friendly coatings, sustainable packaging, energy-efficient vehicles, renewable energy and less resource-intensive agriculture.
By 2020, BASF said it plans to employ around 3,500 R&D personnel in the region, up from 800 last year. It will establish facilities to research electronic and battery materials, agriculture, catalysis, mining, water treatment, polymers and minerals.
Following the recent inauguration of the BASF Innovation Campus Asia Pacific in Shanghai, China, the company expects to establish a second similar campus as part of its human resources development programme to strengthen its presence in the region. Its global Learning Campus in Asia Pacific which includes a facility in Singapore will aim to develop regional talents and provide a hub for learning innovation.
The company will look for solutions to meet the needs of Asia’s emerging middle class including affordable mass housing, food fortification, wind energy, and water purification. For the first time, it will explore untapped markets in Mongolia, Laos, Myanmar and Cambodia.
“In the next decade, Asia Pacific will face huge challenges while remaining the fastest growing market for the chemical industry. With our strategy, we are positioning BASF as the leading provider of sustainable solutions for the Asia Pacific region,” said Martin Brudermüller, BASF’s vice chairman with responsibility for the region.
“Based on our strong global R&D network, we will considerably strengthen our innovation capabilities in Asia Pacific, enabling us to better serve our customers in all industries in the region.”