BASF invests in the expansion of its China R&D capabilities
The company says it has allocated €90 million to build additional research and developing facilities and auxiliary facilities at its existing site in Pudong, Shanghai that should be completed by the end of 2015.
BASF is targeting significant growth in its business in the Asia Pacific region, and has set the bar high for its plans in the China market, which is continuing to experience fast industrial and economic growth, despite a slowdown from exceptionally fast growth of the past two to three years.
One quarter of BASF research staff will be based in Asia Pacific by 2020
“By 2020, around 25% of BASF’s R&D employees will be located in Asia Pacific,” said Dr. Andreas Kreimeyer, member of the Board of Executive Directors of BASF SE and Research executive director.
“The expansion reinforces BASF’s commitment to globalizing its R&D activities and capturing growth opportunities in China and Asia Pacific.”
As well as the personal care industry, the expanded facilities will also be serving development in the home care, health and nutrition, construction and automotive industries.
One of BASF largest R&D facilities outside of Germany
The facilities in Pudong have been developed over the years to become the largest BASF R&D facilities outside of Germany, reflecting the growing importance of its business in the Asia Pacific and China markets, as well as the need to develop products tailored for Asian markets.
The new facilities will be strengthened to develop advanced materials and systems as well as adding new areas such as formulations and chemical process and engineering serving growth, the company says.
“The Innovation Campus Asia Pacific in Shanghai has proven to be an effective platform that not only responds quickly to market needs in China and Asia Pacific, but also connects BASF with the science community in Asia Pacific,” said Dr. Martin Brudermüller, vice chairman of the board of executive directors of BASF SE, responsible for Asia Pacific.