Shanghai, China – 24 July 2014 - BASF Shanghai Coatings Co., Ltd., a joint venture between BASF Group and Shanghai Huayi Fine Chemical Co., Ltd., has inaugurated its new automotive coatings plant at the Shanghai Chemical Industry Park in Shanghai, China. The expansion of its automotive coatings production capacity with an investment of around €50 million further strengthens BASF’s presence in China and its position as a leading coatings supplier to the automotive industry.
“BASF is the leading chemical partner for the automotive industry. This investment further signifies our commitment to our automotive customers and to supporting the dynamic growth of China’s automotive market,” said Dr. Andreas Kreimeyer, Member of the Board of Executive Directors of BASF SE and Research Executive Director.
The new automotive coatings plant is located adjacent to another new BASF resin and electrocoat plant which will start operation in the second half of 2015. The close proximity of these two plants with access to facilities of BASF Caojing site and the Shanghai Chemical Industry Park will allow greater synergies and operational efficiency.
BASF’s Coatings division develops, produces and markets innovative automotive coatings, automotive refinishes and industrial coatings as well as decorative paints. It operates sites in Europe, North America and South America as well as Asia Pacific. In 2013, the Coatings division achieved global sales of €2.9 billion.
BASF is the world’s leading chemical company. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).