BASF eyes 11% sales rise in China
Print Edition
GERMAN chemicals company BASF aims to grow sales in China by 11 percent annually to 12 billion euros (US$16.6 billion) in 2020.
As China’s economic growth slows, the expansion would be below the average annual rise of 17 percent the company has achieved in China since 2004. But still the expected rate would propel BASF ahead of most peers as the firm enters sectors where demand is strong for its plastics solutions.
“Generally, the chemicals industry’s growth rate is about 2 percentage points higher than that of the overall economy,” Zheng Daqing, senior vice president for business and market development in China, said yesterday.
“BASF aims to grow faster than the industry average.”
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