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August 18, 2006
Press Conference |
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Shanghai MDI/TDI Project Opening Ceremony
Shanghai, China |
A milestone on BASF’s path to success in China
Dr. Martin Brudermüller
Member of the Board of Executive Directors of
BASF Aktiengesellschaft, responsible for Asia
The spoken word applies!
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Vice Mayor,
Distinguished guests,
Ladies and gentlemen,
On behalf of BASF, I would like to welcome all of you to the opening ceremony of our joint MDI/TDI project in the impressive Shanghai Chemical Industry Park.
For me as new board member responsible for BASF’s business in Asia Pacific, the Shanghai Chemical Park is one of the best symbols both for China’s fast transition process into a powerful industrialized country and the enormous power of our industry - the chemical industry.
Greater China is currently BASF’s third largest market, after Germany and the United States. In 2005, we achieved sales of about €2.8 billion (more than RMB 28.5 billion) in China, accounting for around 6 percent of the global figure. We employ more than 4,000 people here, around 98 percent of which are Chinese nationals. In total we operate 16 wholly-owned subsidiaries and eight joint ventures. With the acquisitions of the global business of Engelhard, Degussa Construction Chemicals and Johnson Polymers this year our market position in China has been further strengthened.
BASF’s target in China is to achieve around ten percent of our global sales and earnings in the chemical business by 2010. Today’s inauguration, the second largest investment project for BASF in China, will make a significant contribution not only to this ambitious target, but also to China’s promising polyurethane market.
The new MDI/TDI plants, based on powerful structures in an excellent location, will allow us to competitively serve customers in many important and growing industries like the construction and automotive industries.
Today I feel very honored to witness the result of the hard work of more than 700 employees over the last couple of years. I think all of you have every reason to be proud of your achievements and you should share your pride and joy with all guests present here, because it is your persistent dedicated actions and passion that make this world-scale project an important element of the Shanghai Chemical Industry Park. It is amazing that a $1 billion investment has come to fruition in less than 2.5 years.
I would like to take this opportunity to thank and congratulate every employee from the three joint ventures for their outstanding achievements!
There is no better way to success than with strong partners at your side, complementing each other’s strengths and expertise. The MDI/TDI project is a visible proof of the excellent partnership between BASF, Huntsman, our esteemed Chinese partners - Shanghai Hua Yi (Group) Company, Shanghai Chlor-Alkali Chemical Co. Ltd. and Sinopec Shanghai Gao Qiao Petrochemical Corporation - and, importantly, the Shanghai Chemical Industry Park, the governments and other stakeholders in Shanghai and Beijing. Together with our partners, customers and suppliers, employees as well as local communities, we are striving for ongoing sustainable success – for the three joint ventures as well as for the people in the region. For us this means we aim to combine economic success with environmental protection and social responsibility.
We at BASF have been very encouraged by the many millions of man hours put into this project, all with an excellent health and safety record. This emphasizes our commitment to sustainable development.
Today’s ceremony marks the completion of three major investment projects for BASF in China, with the Nanjing Integrated Verbund site starting up in June 2005, and the neighboring THF/PolyTHF® project starting up in the second quarter of 2005. All of these investments clearly define BASF’s strengths and its long-term commitment to China’s market. With these new world class plants we will get even closer to our customers and will serve them with innovative new products, better logistics and improved solutions. They will also further increase our local production share, which was already 34 percent for BASF Greater China in 2005.
Ladies and gentlemen,
From the very first step to today’s opening celebration, our joint ventures have been very successful. This was only possible by the trusting and reliable cooperation of many people. I would like to thank all who have contributed to this tremendous success. I would like to particularly express our thanks to all Chinese government authorities for the assistance, support and cooperation they have rendered to BASF and to this project over the years, as well as to our partners for their commitment and support. Finally, I wholeheartedly thank our entire team for their enthusiasm and professionalism.
I wish all of us long lasting, economically successful and safe operations here in the Shanghai Chemical Industry Park.
Thank you.
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