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N E W S
September, 2005


BASF sees 10 pct global chemical sales in China by 2010

"We want to shape the future of Asia with our chemistry," Jurgen Hambrecht, BASF's chairman, told reporters.

The US$2.9 billion (euro2.4 billion) Nanjing plant, a 50-50 joint venture with China's Sinopec Petrochemical Co., is BASF's biggest single investment in its 140-year history. ...

Hambrecht commented on this factor, saying that 'migration of manufacturing plants from Europe is happening, and we will be able to supply (chemicals to) the customers who move out.'

Germany-based BASF said it has invested 5.6 billion euros (US$6.7 billion) in Asia since 1990. It plans to spend another euro1 billion (US$1.2 billion) in the region by 2009.

http://www.forbes.com/associatedpress/feeds/ap/2005/09/27/ap2245653.html
http://www.forbes.com/afxnewslimited/feeds/afx/2005/09/27/afx2245514.html
http://www.forbes.com/afxnewslimited/feeds/afx/2005/09/27/afx2245398.html
http://www.forbes.com/afxnewslimited/feeds/afx/2005/09/28/afx2248023.html

Asian economic and corporate news summary

China 2005 GDP growth rate seen at 9.2 pct, H1 2006 at 8.7 pct
China central bank says yuan/dollar trading band appropriate at current levels
China still aiming for full yuan convertibility - NPC official ..

http://www.forbes.com/afxnewslimited/feeds/afx/2005/09/26/afx2243087.html

 
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