This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Basf y China, el idilio se fortalece

The multinational company wishes to obtain 10 percent of its worldwide sales of chemical products in China in 2010

BASF and China, the Idyll is strengthened

María Escribano01/12/2005

BASF wants 10 percent of its sales and global benefits in the chemical sector occurring in China on the horizon of 2010. At a press conference in Nanjing, held the day before the opening ceremony of its first Verbund in China plant, it stressed the importance of the activities of the company in this country.

A moment of the opening of the plant.

The new plant represents the largest individual investment in Basf in its 140-year history and is a key element of the strategy of the company in the Asia-Pacific region.

"We want to shape the future of Asia with our chemical products," said Jürgen Hambrecht, Chairman of the Council of management of Basf. "That is why, in our new complex in Nanjing, we have built the most modern plants and we have used highly integrated processes of last generation."

In total, Basf has invested in Asia, between 1990 and 2005, 5.6 billion euros. BASF plans to invest another billion euros as of 2009, with the aim of further expanding its network of chemical production standard, and basic chemical products of high value and systems to measure.

Until 2009, will be allocated another billion euros to Asia

China, engine of growth

"We are convinced that China will remain the engine of growth in Asia and, in particular, in the chemical sector," said Andreas Kreimeye, Member of the Council of management of Basf responsible for the Asia-Pacific region. "The new complex of Nanjing will have an important role in the achievement of our ambitious plans in the region".

BASF-YPC Co. Ltd. is a joint venture to 50 percent between Basf and Sinopec.

The new complex, 220 hectares, will have an annual production of 1.7 billion metric tons of chemicals and polymers of high quality, for the Chinese market, which is known a rapid growth. A total of $ 2.9 billion in the construction of this integrated plant has been reversed. In times of increased activity, in the enclave have brought together technical of 22 countries and 15,000 workers (with various occupations and from different cultures) to work closely in the construction of the plants and infrastructure. During the phase of construction, Basf provided a thorough safety training to more than 100,000 workers.

Dr. Bernd Blumenberg, President of Basf-YPC Co. Ltd. in Nanjing press conference.

"" Tomorrow it will be four years from the day on which we put the first stone of this complex of Nanjing", said Hambrecht."If we have managed to carry out successfully a project of this importance has been the tremendous efforts of our local employees and our partners and, of course, thanks to the determined support of the Governments of China and Germany. "I would like to thank sincerely all those who have taken part, for his outstanding work".