12.12.2011 – BASF plans to strengthen its position as the world’s leading chemical company. In its further developed strategy “We create chemistry,” the company outlines how it wants to achieve this. The Chairman of BASF’s Board of Executive Directors Dr. Kurt Bock, Vice Chairman Dr. Martin Brudermüller and CFO Dr. Hans-Ulrich Engel presented the details at a press conference in Ludwigshafen.
Bock pointed out that the company had achieved its leading position thanks to its successful strategy in the past years: “We will build on this and make a significant contribution to meeting the needs of a growing world population.”
The company has set itself ambitious goals. BASF forecasts that global chemical production will grow faster than global gross domestic product (GDP) through 2020. In this period, the company expects the global economy to grow by an average of 3 % per year. BASF continues to aim to increase sales by an average of 6 % per year until 2020. Overall, BASF targets sales of approximately 115 billion Euros and seeks to further increase profitability to achieve an EBITDA of 23 billion Euros in 2020.
“The scope of skills and know-how that we combine under one roof is what sets us apart from our competitors. These factors include our innovative strength, our broad technology basis, our operational excellence and our global access to relevant customer industries,” said Bock. “We add value as one company by combining these strengths.” Innovations from the chemical industry nowadays rarely rely on the development of new chemicals. Instead, new materials and system solutions are created by combining know-how from a variety of disciplines. “Innovations of this kind require a broad portfolio, interdisciplinary cooperation and a deep understanding of our customers’ value chains. We therefore will continue to develop our portfolio in the direction of customer-focused businesses,” explained Brudermüller.