BASF plans $30 million plant
21 Dec 2004
BASF announced today that it is investing $30 million in a new polyisocyanate plant in the Shanghai Chemical Industry Park in Caojing, China.
BASF is investing in a new polyisocyanate plant in the Shanghai Chemical Industry Park in Caojing near Shanghai, China.
Construction of the plant, with an annual capacity of around 8000 metric tons, is to begin in June 2005 and is scheduled to go into operation at the end of 2006.
The plant's polyisocyanates - raw materials for the manufacture of automotive, industrial and wood paints - will supply the entire Asian market. The investment amounts to around $30 million.
"We will gradually but systematically expand our worldwide business in coatings raw materials with production plants in the regions that count for us", commented Dr. Gerd Löbbert, head of BASF's Performance Chemicals for Coatings, Plastics and Specialties unit.
