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China: Market Demand BASF to Increase Alkoxylate Capacity in Asia Pacific
BASF has acquired Sinopec Shanghai Petrochemical Company’s assets in Jinshan, China with an aim to boost alkoxylate production in the backdrop of its rising demand in the Asia Pacific market especially China.
Shanghai/China – BASF will increase its alkoxylate capacity in Asia Pacific, with its latest investment in Jinshan, China. The company has acquired land, buildings and assets of SPC, related to alkoxylates production, adjoining the BASF Jinshan site, in order to fulfil the growing demand from customers across Asia Pacific, especially China. With the current alkoxylate line in the Care Chemicals Jinshan plant running at full capacity, this acquisition will help double the capacity at Jinshan from end 2020.
“This investment reinforces BASF’s commitment to China and makes Jinshan a significant production base for a range of products across the Care Chemicals portfolio in the region,” said Dr. Stephan Kothrade, President and Chairman Greater China, BASF.