BASF investment
Source: Bloomberg News |
June 5, 2013, Wednesday
|
Print Edition
Print Edition
BASF SE plans to invest 10 billion euros (US$13 billion) in Asia-Pacific as it shifts research and procurement to the world's fastest growing chemical market to help double profit there. The Asia-Pacific division, which saw margins fall to 10 percent last year, has a "good chance" to reach the average profitability of the group, Martin Brudermueller, deputy CEO and head of the region, said yesterday in Hong Kong. On a group level, BASF aims to lift margins to 20 percent by the end of the decade from 14 percent now.
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