BASF to Increase Asian Investment
BASF is planning to expand its presence in Asia by investing 2.3bn ($3.1bn) over the next five years.
The chemical major is planning to expand chemical production in Malaysia and China.
BASF could also invest 1bn ($1.3bn) in a joint venture with Petronas in Malaysia and $1bn in a joint venture with Sinopec in Nanjing, China.
The company has confirmed that Korea remains an important production base despite its focus on the Chinese market.
BASF reported sales of 12.5bn in the Asia-Pacific region, up 46% from a year before, according to koreaherald.com.