BASF outlined its Strategy 2020 for Asia Pacific. Through 2020, BASF aims to grow on average two percentage points faster than the Asia Pacific chemical market each year. With expected market growth of 4 to 5 % per year, this would double regional sales by 2020 while earning a premium on cost of capital. This ambitious strategy is based on growth and new business initiatives.
Under its new strategy, BASF will initially target five key growth industries in the region, will increase headcount by at least 5,000 from a current figure of approximately 15,000, and plans to generate 70 % of regional sales from local production. At the same time, the company will invest 2 billion Euros in the region between 2012 and 2013, and aims to create efficiency improvements that are expected to save at least 100 million Euros annually by 2012.
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