Friday, October 12, 2007

BASF projects 10% growth in China region sales for 2007

German chemicals group BASF estimates sales in the greater China region to grow more than 10% in 2007, as it continues to expand in mainland China to benefit from a booming economy. Sales in greater China, which includes Hong Kong and Taiwan, totaled to 3.6 bln euros (US$5 bln) in 2006, comprising nearly 50% of its overall sales in Asia. BASF will invest 1 billion euros in Asia until 2009, with half of that going to the greater China area.

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