BASF to 'increase competitiveness'

29/04/2013
Chemicals giant BASF has stated it will increase its focus on the growing Asia-Pacific region and high value-adding applications such as those aimed at the automotive leather industry and premium textile articles.

The global R&D centres for both leather and textile chemicals will be established in Shanghai, China.

The group said it aims to “significantly increase competitiveness in the coming years by streamlining processes, investing in new technologies and adjusting its portfolio and its organisational set-up”.

It increased its earnings in the first quarter of 2013 by 5% to €19.7 billion.